Roadrunner Transportation Systems Inc. announced it is purchasing Prime Logistics Corp., Plainfield, IN, for $97.5 million. Prime is a warehousing and distribution company that had $67.5 million in revenue in 2010. The Prime acquisition is Roadrunner’s fourth and largest this year.
Roadrunner, based in Cudahy, WI, is a 1,200 owner-operator trucking and logistics company. Last month Roadrunner purchased The James Brooks Co., which transports produce at the Ports of Los Angeles and Long Beach and Oakland, for $7.5 million. Roadrunner bought Bruenger Trucking Co., a refrigerated hauler out of Wichita, KS, for $10.6 million earlier this year and in February bought Morgan Southern Inc. of Atlanta for $20 million.
Roadrunner said it expects the Prime acquisition to boost company earnings immediately and by as much a 16 to 18 cents a share in 2012, according to a report in the Milwaukee Journal Sentinel.
Prime operates four warehouses in Indianapolis, Dallas, Atlanta and Stockton, CA. The warehouses total more than 2 million square feet of space where the company handles more than 1 billion pounds of food a year.
