McCoy Group, parent company of tank transporter Foodliner and liquid and dry bulk carrier Quest Liner (CCJ Top 250, No. 73), is acquiring the Burnsville, Minnesota-based tank trucking segment of Bay and Bay Transportation (No. 151).
Terms of the deal were not disclosed.
Foodliner, based in Dubuque, Iowa, will continue operating out of Burnsville, while Bay and Bay’s dedicated trucking teams will move to the company’s Eagan, Minnesota, facility.
Bay and Bay CEO Sam Anderson noted that the divestiture of its tank business allows Bay and Bay to further focus and invest in its refrigerated trucking and multi-modal logistics businesses, which make up 97% of the company’s annual revenue and have grown more than 30% annually the past three years. The company is among the largest refrigerated logistics providers in the U.S.
The McCoy Group, a family owned and privately held freight company established in 1958, is the largest foodgrade bulk carrier in the United States.
“We appreciate and respect all of our team members that are part of this change,” Anderson said, “and we believe Foodliner and the McCoy family can provide our Bay & Bay tank trucking team with great opportunities in the future.”
Bay and Bay recently acquired a facility in Logansport, Indiana, which joins an already existing Midwest terminal.
This year has been a hot one for acquisitions among CCJ’s Top 250 for-hire carriers. There have been 19 deals among the group since the beginning of June, and 28 Top 250 fleets have struck 27 deals this year.