Dayton Freight Lines to Acquire Cartage Division From Valley Cos.
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Dayton Freight Lines announced Feb. 28 that it plans to acquire the Cartage division from Valley Cos., a transportation and logistics company.
Terms were not disclosed. The deal is expected to close March 11.
鈥淲e are very thankful for our long-standing partnership with Valley Cos.,鈥 said Anthony Rocco, chief operating officer at Dayton, based in Dayton, Ohio. 鈥淭he similar values and beliefs we share with Valley made this an easy decision, and we are excited to see where this growth takes us.鈥
Dayton is a provider of regional less-than-truckload transportation services based out of Dayton, Ohio. The company believes the acquisition will help it achieve its goal of providing direct coverage to Minnesota.
鈥淭his is a big picture decision for Valley Cos., and it wasn鈥檛 an easy one, seeing as we鈥檝e been in the cartage business for nearly 90 years,鈥 Valley CEO Todd Gilbert said. 鈥淥ur customers鈥 needs have shifted, so we need to shift with them. This divestment of the Cartage division will strategically allow Valley to focus on areas such as nationwide truckload and LTL, final-mile, warehousing, and invest time and energy where our customers need us the most.鈥
Valley offered to sell its Cartage Division following a partnership between the two companies which began more than two decades ago. The acquisition will include various assets such as service centers, trucks and miscellaneous equipment. Valley will also have some of its workforce integrated in as part of the deal.
Dayton ranks No. 55 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
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