Penske Logistics announced the anticipated acquisition of a nearly 100-year-old Chicago-based trucking company on Monday.
While financial terms have not been disclosed, Penkse Logistics’ acquisition of Black Horse Carriers Inc. is expected to close on December 31st, 2020.
“The Penske organization has had a longstanding and valued relationship with Black Horse Carriers for many years,” said Marc Althen, president of Penske Logistics, in a press release. “This acquisition will be complementary to our existing portfolio of customers and industries within our dedicated contract carriage business. We look forward to working with the Black Horse Carriers team on this acquisition and the integration of our operations.”
Black Horse Carriers was founded in 1925 in Chicago, and has provided services for the food and grocery, retail, bakery, dairy, CPG, manufacturing, and automotive industries. They currently employ 4,000 people and operate a fleet of more than 2,000 trucks.
“We’re very excited about joining the Penske organization,” said Ken Landego, CEO of Black Horse Carriers, Inc. “The synergies created by the combination of both companies will benefit our customers from a service-level standpoint and elevate our technology capabilities. We look forward to this new journey together.”