Truckload carrier Knight Transportation Inc has completed the acquisition of 100% of the stock of Edwards Brothers Inc, a refrigerated truckload carrier based in Idaho Falls ID. The purchase price was not disclosed.
Kevin P Knight, chairman and chief executive officer of Phoenix AZ-based Knight Transportation, said, "Edwards Brothers has a long history in the refrigerated market, and we expect a good fit with our successful Knight Refrigerated operation.
“Edwards Brothers has generated approximately $25 million to $30 million in revenue, including both trucking and brokerage operations," said Knight. "We expect to retain a majority of the revenue, focusing on the most favorable relationships and attempting to match fleet size with the number of qualified drivers. Prior to the acquisition, Edwards Brothers was marginally profitable."
Edwards Brothers will operate under its own name for the near term, with a transition to the Knight Refrigerated name likely.
