A subsidiary of Celadon Group Inc.
has purchased the truckload van business and approximately 370 tractors and 670
trailers of CX Roberson Inc. for approximately $22.7 million.
A Celadon press release announced
the purchase of the Roberson van unit Jan. 18. The purchase did not include
Roberson’s flatbed business or its assets.
Celadon plans to offer jobs to
approximately 320 Roberson drivers and expects to integrate the operation “promptly” according to the press release. Of the 370 trucks purchased, Celadon
only anticipates keeping 200 of the newer trucks and 200 newer trailer units. The additional Roberson drivers will keep their units until seated with newer equipment.
The press release touted a “better
than the industry average” driver turnover for the past few years, and said the
company plans to “work hard” to retain the Roberson drivers.
During the early transition,
Celadon officials will focus on the most favorable freight and discontinue
hauling freight that does not fit the company’s operations; assist with driver
retention and minimize the risk of
unseated tractors following the acquisition; and operate a newer fleet with
lower maintenance costs.
According to the Roberson’s
unaudited financial statements, the Champaign, IL-based van division of CX
Roberson generated approximately $45 million in gross revenue in 2004. The
press release said that Celadon company officials thought Roberson had a core
group of high-quality customers and drivers,
but suffered from the excessive cost structure that plagues many mid-sized
Additional comments from Celadon
officials were not available at press time. Roberson officials did not return
repeated phone calls from Land Line.
– By Jami Jones, Land Line staff