Integrated Freight Corp. announced Tuesday, Oct. 12, that it has signed a definitive agreement to purchase Wichita, Kan.-based Bruenger Trucking Co. and its subsidiary, M. Bruenger & Co. Inc., for about $11 million. Integrated Freight says the transaction is poised to add $21 million in revenue to its platform and is expected to bring the total annual revenue of IFC to more than $60 million. Closing is anticipated within 45 days.
Founded in 1936, M. Bruenger & Co. is one of Kansas’ largest refrigerated and dry freight operators, with 2009 revenues of more than $21 million. The heart of Bruenger’s coast-to-coast service radiates from the central dispatch in Wichita, directing a fleet of 160 tractors, 187 refrigerated units and 30 dry vans. Bruenger’s market has expanded to include aviation materials, canned goods, foodstuffs and numerous general commodities across the Unites States and into Canada.
“The addition of Bruenger Trucking marks a significant milestone for IFC as we continue to assemble a high-quality national freight network,” says Paul Henley, chief executive officer of Integrated Freight. “Acquiring a company with the reputation and longevity of Bruenger in such a strategic geographic area is a watershed event for us. We look forward to the addition of Butch Bruenger as a leader of our team.”
Integrated Freight, based in Sarasota, Fla., provides long-haul, regional and local service and specializes in dry freight, refrigerated freight and hazardous-waste truckload services, operating primarily in traffic lanes in the upper Midwest, Texas, California and the Atlantic seaboard. Integrated Freight was formed for the purpose of acquiring and consolidating operating motor freight companies. The company completed its third acquisition in May and recently reported second-quarter revenues of $6.7M.
“This business combination with Integrated Freight will allow us to expand and strengthen our excellent customer service while providing employees with more opportunities within the larger IFC platform,” says Butch Bruenger, CEO of Bruenger Trucking.
