California Cartage Co., the largest drayage firm at the ports of Los Angeles and Long Beach, has been acquired by NFI Industries Inc., the companies announced this week.
Terms of the deal were undisclosed.
Founded in 1944, Long Beach-based CalCartage provides the transport of goods over short distances, warehousing and distribution, customs examination, and brokerage services. NFI is a national drayage and goods transport company based in Cherry Hill, N.J.
“NFI is a perfect cultural fit for the CalCartage family and is why we sought them out since the beginning,” Bob Curry Sr., CalCartage owner and chairman, said in a statement. “Our people have built up this company over its long history, and NFI is an ideal organization to grow with and provide more opportunities for our employees, independent contractor partners, and customers.”
The combined company is expected to generate about $2 billion in annual revenue in 2018, NFI said. The firm said it now has a significant presence at nearly every major U.S. port and the acquisition enables it to service shippers in the movement of goods from port to final destination throughout North America.
Manufacturing and trade reporter Shwanika Narayan can be reached at email@example.com. Follow her on Twitter @shwanika.
For reprint and licensing requests for this article, CLICK HERE.