CRST International Inc. said today it has acquired Ontario, Calif.-based Gardner Trucking Inc. in the largest transaction in CRST's 61-year history. Terms of the transaction were not disclosed.
Gardner, which generates annual revenue of $400 million, is the largest truckload carrier that is based in California, CRST said. It also operates in Texas, Washington, Oregon, and Arizona.
The acquisition will move CRST, a Cedar Rapids, Iowa-based long-haul truckload carrier with about $1.5 billion in annual revenue, near the $2 billion revenue mark. Gardner will bring regional truckload and ancillary services to complement CRST's long-haul niche, according to David Rusch, CRST's CEO.
Tom Lanting, the owner and president of Gardner Trucking, will continue in his current role as president, CRST said.
"Gardner will allow CRST to enter the warehousing, drayage, and regional van transportation segments through Gardner's expanded customer base," Rusch said in a statement. "For CRST and Gardner, it means improved fleet utilization and increased operating efficiencies."