Old Dominion Freight Line announced that it is purchasing selected assets of Bullocks Express Transportation Inc., headquartered in Denver. Bullocks Express produces about $17 million in sales annually through its network of eight service centers in five states.
The transaction, terms of which were not announced, includes the purchase of selected assets, including all revenue equipment, certain office equipment and all sales formation and records. Effective Friday, Dec. 14, Old Dominion will combine Bullocks Express’ eight terminal operations and its entire route structure with Old Dominion’s network, increasing the ODFL network to 192 service centers. Through the acquisition, Old Dominion will gain an additional service center in Farmington, N.M.
“Bullocks Express Transportation Inc. is a well-run company with a strong franchise in its five-state market, and they have built an excellent reputation for providing quality transportation service,” says Earl E. Congdon, ODFL chairman. “The move is consistent with our growth and service strategy, and is also consistent in keeping with our focus of building a world-class multiregional and inter-regional network.”
Congdon says Thomasville, N.C.-based Old Dominion currently provides direct coverage to 47 states with 100 percent full state coverage to 38 states.” With this acquisition, we will enhance our direct coverage in the states of New Mexico, Utah, Colorado, Arizona and Texas,” he says. “This transaction also enhances our current nationwide service offering. Old Dominion customers will receive improvements to an already comprehensive OD-Domestic product offering with the additional direct service offering.”
Congdon says ODFL plans to continue the quality intrastate and interstate service that Bullocks Express has provided its customers. “We will be focused on continuously improving the service product,” he says. “In addition, we are committed to providing our new customers ‘Best-in-Class’ inter-regional service, as well as our added-value products that include time-definite OD-Expedited Service, international service within our OD-Global division, and high-speed state-of-the-art OD-Technology services.”