Central Freight Lines to Acquire Volunteer Express, Lay Off 81 Employees
Waco, TX – Central Freight Lines (CFL) announced last week it has entered a definitive purchase agreement to acquire Nashville, TN-based Volunteer Express, Inc.
The agreement is expected to close on April 5, 2020, and all operations will be officially combined, and the companies will function under the CFL brand, a statement said.
Two days after CFL, a leading less-than-load (LTL) carrier, made the announcement, Volunteer Express filed a Worker’s Adjustment and Retraining Notice (WARN) with the Tennessee Department of Labor and Workforce Development.
The WARN notice indicates the company will permanently lay off 81 workers and become effective May 23, 2020.
“Volunteer Express, Inc. understands that most, but not all employees will be offered positions with CFL,” the WARN notice says.
Volunteer Express was founded in 1973 in Dresden, TN.
Forty-six years later, it has grown from one to twelve terminals, and has locations in Tennessee, Georgia, Alabama, and Virginia.
According to data from the Federal Motor Carrier Safety Administration (FMCSA), the carrier operates 169 power units and employs 173 drivers.
The general freight hauler reported 19 crashes including 13 tow aways and 5 injuries in the prior 24-month reporting period.
CFL says the combination of the two carriers will allow for an increase in internal processes and expand the footprint and services for all customers.
“We welcome the members of Volunteer Express into a healthy, expanding company with a deep leadership bench,” said Michael Brennan, Central Freight’s Chief Operating Officer. “We have experienced tremendous growth year over year, and as our industry continues to evolve, we will continue to attract and retain the best talent while expanding our footprint and services for our growing customer base.”
“We are now delighted to offer an additional 15 states of coverage to our customers, and a deeper degree of resources for our employees,” said Rick Baker, President and COO of Volunteer Express.
Photo courtesy Volunteer Express