Refrigerated carrier Bay and Bay announced it has sold its tank trucking unit to the McCoy Group, the parent of Foodliner and Quest Liner, which combine to make the largest food-grade bulk fleet in the U.S.
Dubuque, Iowa-based Foodliner will run the operation out of the current location in Burnsville, Minnesota.
Financial terms of the transaction were not included.
“We appreciate and respect all of our team members that are part of this change, and we believe Foodliner and the McCoy family can provide our Bay and Bay tank trucking team with great opportunities in the future,” Bay and Bay CEO Sam Anderson stated in a news release.
Eagan, Minnesota-based Bay and Bay had been providing tank transportation throughout the Midwest for the past 50 years. The divestiture will allow it to focus on its reefer and multimodal logistics units, which account for 97% of its annual revenue. The company’s operations have grown by more than 30% annually over the last three years.
Bay and Bay recently purchased a facility in Indiana to expand its national reefer network. The company’s dedicated trucking operation has relocated to its facility in Eagan.
“The company’s decision to invest in Indiana strengthens our presence in the Midwest for new and existing customers,” said Bay and Bay CFO Mike Westland. “It also provides our hard-working drivers with additional opportunities throughout the country.”
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