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ABF Logistics Buys Bear Transportation Services for $26M

2 min read

ABF Logistics, a subsidiary of publicly traded ArcBest Corp. of Fort Smith, said Tuesday that it has acquired Bear Transportation Services LP, a private, non-asset truckload brokerage firm based in Plano, Texas, for $26 million cash.

The deal is effective Tuesday, subject to post-closing adjustments, ArcBest said.

Bear Transportation Services has more than 140 employees in Plano and Fayetteville. Founded in 1982, the company, has about $120 million in annual revenue and serves a variety of industry segments.

For the third quarter, ABF Logistics reported revenue of $49.3 million. For the nine-month period ended Sept. 30, the subsidiary reported revenue of $147.1 million.

“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,” ABF Logistics President Jim Ingram said in a news release. “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 for ABF Logistics this year. In January, it bought Smart Lines Transportation Group of Oklahoma City, Oklahoma.

“We are pleased to find a strategic buyer with a strong culture and a clear growth plan,” said Mike Loehr, a principal owner of Bear Transportation. “Our employees and our customers will benefit from the resources and solutions ABF Logistics and the broader ArcBest organization will provide.”

ABF Logistics provides third-party logistics services including brokerage, intermodal and ocean transport, transportation management, warehousing and household moving.

Shares of ArcBest (Nasdaq: ARCB) ended the day up more than 1 percent to $24.33.

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