PS Logistics Completes Acquisition, Agreement
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PS Logistics announced its refrigerated carrier Purdy Bros. Trucking, based in Loudon, Tenn., completed the acquisition of certain transportation assets of Phoenix Leasing of Tennessee Inc.
It also entered into an agreement with Phoenix’s sister company, Colonial Freight Systems Inc., to contract with its drivers to continue serving several of its southeastern blue-chip cold-chain customers.
Financial terms of the transaction were not disclosed.
Based in Knoxville, Tenn., Colonial was founded in 1943 by Clarence McBride and since then has operated as a family business. PS Logistics noted the transaction will further strengthen its refrigerated operations in the southeast by adding more than 55 lease-purchase drivers to Purdy Brother’s fleet, including more than 50 new model tractors.
PS Logistics ranks No. 36 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics
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