New Jersey-based National Freight Inc. has announced plans to purchase
Jacksonville's Core Carriers Inc. The deal is expected to be finalized
Sept. 30 as part of the deal Core Carriers will continue operating
under its own name.
Core Carriers has 125 employees outside Jacksonville. The privately
held company, founded in 1988, reported 2001 revenue of $46 million.
NFI is one of the 50 largest and oldest trucking companies in the
nation, said Thomas Albrecht, a trucking analyst for BB&T Capital
Markets in Richmond, VA.
The Core Carriers deal illustrates a trucking trend that has been
going on in recent years, Albrecht said. More than 9,000 small U.S.
trucking companies have gone bankrupt since 2000, and others have
been bought by larger companies.
Privately held NFI companies include NFI National Freight, NFI
Interactive Logistics, NFI National Distribution Centers, NFI Contract
Manufacturing and NFI Real Estate. Together, NFI operates 110 carrier
support and warehousing facilities nationwide occupying more than
13 million square feet and employing more than 3,600.