Carrier increases its reefer business by acquiring a facility in Indiana.
Bay and Bay announced the sale of its tank trucking division to the McCoy Group, parent company of Foodliner and Quest Liner, which together form the largest food-grade bulk fleet in the United States.
Foodliner, based in Dubuque, Iowa, will handle the enterprise from its current facility in Burnsville, Minnesota.
The transaction’s financial specifics were not disclosed.
“We appreciate and respect all of our team members who have been a part of this shift, and we believe Foodliner and the McCoy family can provide our Bay and Bay tank trucking crew with tremendous prospects in the future,” said Bay and Bay CEO Sam Anderson in a news release.
Bay and Bay, situated in Eagan, Minnesota, had provided tank transportation throughout the Midwest for 50 years. The sale will let it concentrate on its reefer and multimodal logistics operations, which generate 97% of its yearly revenue. Over the last three years, the company’s operations have risen by more than 30% per year.
Bay and Bay has expanded its nationwide reefer network by purchasing a facility in Indiana. The company’s dedicated transportation division has moved to its Eagan location.
“Bay and Bay’s decision to expand in Indiana strengthens our position in the Midwest for new and existing customers,” stated Mike Westland, CFO of Bay and Bay. “It also gives our hardworking drivers more chances around the country.”
