Ruan Transportation Management Systems and Kings County Truck Lines Inc. have entered into a nonbinding letter of intent that calls for Ruan to purchase 100 percent of the outstanding stock of Kings County and other related entities.
Terms were not disclosed. The closing of the transaction — subject to the completion of Ruan’s due diligence procedures and required documentation — is expected prior to the end of the year.
“Both of our companies share the same passion for excellent customer service,” said Mike Kandris, president of Ruan. “With more than 70 years experience in transportation and logistics, we believe we can add value to the long history of outstanding performance that Kings County has provided to its customers.”
Ruan, one of the largest privately owned transportation service providers in the United States, is a full-service company providing dedicated carriage, logistics solutions and brokerage services.
Kings County Truck Lines Inc., headquartered in Tulare, Calif., is one of the nation’s largest regional food grade carriers. The acquisition includes Kings County Truck Lines and its affiliates, Cal Western Transport, Fluid Transport, California Milk Transport and MSM Trucking.
Kings County was founded in 1940 by Manual Mancebo Sr. and now is led by President and CEO Manual Mancebo Jr. The carrier primarily hauls milk products in bulk tank, mainly in liquid form, from producers to processing plants, and later processed products to distribution centers and store locations. Kings County operates 12 terminals in California, Oregon, Arizona and Idaho, and employs about 600 people.
“We are excited about the opportunities that this acquisition presents, and we look forward to expanding our presence in the Western United States,” said John Ruan III, chairman of Des Moines, Iowa-based Ruan.