Panther's purchase of Con-way’s expedite division solidified Panther as the largest independent expedite transportation service company in North America.
The expedited trucking industry was taken by surprise when Con-way Inc. announced on July 24 that it had executed an agreement with Panther Expedited Services, Inc. for Panther to purchase the expedited freight transportation business of Con-way Expedite & Brokerage.
Panther’s purchase of Con-way’s expedite division solidified Panther as the largest independent expedite transportation service company in North America.
For Panther, the acquisition complements its core business, expanding its network of dedicated expedite service contractors to a total of nearly 1,900 cargo vans, straight trucks and tractor-trailers in North America, while increasing its account base with Con-way Expedite’s customer list.
Proceeds from the sale were reported to be between $7 million and $8 million, dependent on certain incentive provisions.
