FedEx Completes Acquisition of Watkins Motor Lines
FedEx Corp. has completed the $780 million cash purchase of the less-than-truckload operations of Watkins Motor Lines and certain affiliates.
A privately held company based in Lakeland, FL, Watkins Motor Lines is a provider of long-haul LTL services with more than $1 billion in annual revenue.
The operations of Watkins Motor Lines and Watkins Canada Express, Watkins' LTL carrier in Canada, which together include more than 140 service centers and more than 14,000 tractors and trailers, will be re-branded FedEx National LTL and FedEx Freight Canada, respectively. Re-branding of both operations begins immediately, according to Memphis, TN-based FedEx.
FedEx National LTL and FedEx Freight Canada each operate as a separate network within the FedEx Freight segment, which also includes FedEx Freight, FedEx Custom Critical and Caribbean Transportation Services. More than 470 service centers comprise the FedEx Freight, FedEx National LTL and FedEx Freight Canada networks. The companies will operate nearly 54,000 tractors and trailers to meet customers' regional and long-haul LTL needs.