ABF Logistics announced Dec. 1 it has acquired Bear Transportation Services, a private, non-asset truckload brokerage firm located in Plano, Texas.
The acquisition went through for $26 million. Bear has more than 140 employees, and the company has approximately $120 million in annual revenue.
“This company is an excellent fit for ABF Logistics, as we believe the purchase will drive growth and profitability by combining our vision, brand and customer relationships with Bear’s deep pool of experienced sales and operations team members,” said ABF Logistics President Jim Ingram. “We have admired the Bear organization for years and have been impressed with the skillsets and innovative IT concepts we have seen in action.”
This is the second acquisition of the year for ABF, as it purchased Oklahoma City-based Smart Lines Transportation Group in January.