Pacific Express to be purchased by LMR

Louisville KY-based Logistics Management Resources Inc (LMR) says it has entered a letter of intent to acquire Adelanto CA-based refrigerated carrier Pacific Express. A holding company, Logistics Management Resources plans to obtain all outstanding shares of Pacific Express in exchange for cash, stock, and assumption of debt.

The total purchase price was undisclosed, and the transaction likely will close Jan 16, 2004.

Pacific Express has 20 full-time company drivers and 35 owner-operators.