Greatwide Logistics Services, a national provider of 3PL services, announced the acquisition of the contracts, personnel and equipment of the Dedicated Contract Carriage division of YRC Logistics, a subsidiary of YRC Worldwide Inc. (Nasdaq: YRCW). The business will be integrated under the Greatwide Logistics Services brand immediately.
Greatwide will acquire all of the customer contracts from Dedicated Contract Carriage, which include customers in the grocery, steel and auto industries, located in 29 operating locations throughout the country.
"The acquisition of YRC Logistics' Dedicated Contract Carriage aligns perfectly with our industry-leading position in providing dedicated transportation to food and grocery, consumer products and retail customers, while also strengthening our presence in the industrial sector of the market," said Raymond Greer, CEO of Greatwide Logistics Services. "This acquisition allows us to expand our capabilities to include flatbed dedicated service and apply our transportation management services expertise to new industrial shippers."
In February 2009, Greatwide Logistics Services was purchased by affiliates of Centerbridge Partners, a leading private investment firm, and other investors.
Greatwide Logistics Services is the second-largest dedicated contract carriage provider in the United States. The company also provides transportation management services, freight brokerage and warehousing service to more than 1,300 clients.
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