America’s biggest truckload carrier, Knight-Swift Transportation Holdings Inc., has added 400 trucks to its fleet by acquiring Richmond, Virginia, based Abilene Motor Express.
The purchase of Abilene Motor Express is the first acquisition made by Knight-Swift since the companies joined forces last fall and could indicate that the company is in purchase mode. The terms of the acquisition have not been released, according to a report in the Wall Street Journal.
Abilene Motor Express will keep its name and brand after the acquisition is complete.
In addition to its 400 truck fleet, Albelene Motor Express brings with it about $100 million in annual revenue. Knight-Swift brought in $2.4 billion in revenue last year.
Company founder Keith Jones, 74, told Richmond.com, “I figured it was time to step aside and let the younger generation take over.” Abilene Motor Express was founded in 1986 and describes itself as “family-owned business rooted in hard work and determination.” The company operates through the U.S. and Canada.