CSX to Acquire Quality Carriers in Deal Between Transportation Giants
Jacksonville, FL – One of the largest Class I railroad companies is set to acquire a mega trucking company after recently entering into a definitive agreement.
CSX Corp. will acquire Quality Carriers from Quality Distribution, Inc. in a blockbuster deal expected to be finalized later this year.
Quality Carriers operates the most extensive bulk tank trucking fleet in North America through a network of over 100 company-owned and affiliate terminals and facilities in key locations throughout the U.S., Canada and Mexico.
The Tampa, FL-based mega carrier deploys approximately 2,400 semi-tankers and employs about 2,500 drivers providing transportation services to many of the leading chemical producers and shippers in North America.
CSX provides rail, intermodal and rail-to-truck transload services through a network connecting every major metropolitan area in the eastern U.S.
In fact, its service area encompasses nearly two-thirds of the nation’s population.
It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.
In a statement, CSX said it is acquiring Quality Carriers with the goal of establishing the “first integrated multimodal chemicals transportation solution.”
Quality Carriers’ management team, led by President Randy Strutz, will continue to lead the business as part of CSX.
“Quality Carriers is excited to become a new and integral part of CSX, which has unparalleled knowledge, experience and presence in the rail-based bulk chemicals transportation space,” Strutz said. “Together, we will be exceptionally positioned to provide our customers – many of which have existing relationships with both CSX and Quality Carriers – with a unique and seamless rail-to-highway offering.”
The terms of the deal were undisclosed.
However, the transaction is expected to close in the third quarter of 2021, subject to regulatory review and certain customary closing conditions.