National logistics provider NFI, Vineland, N.J., announced an agreement to purchase, through its National Freight affiliate, Jacksonville, Fla.-based Core Carriers.

Core Carriers is a major privately held southeastern U.S. truckload carrier with 2001 revenues exceeding $46 million. The company's fleet includes 350 tractors -- 150 owner-operated and 200 company-owned -- and 900 trailers.
Officials say Oct. 1 is the projected date for completion of the acquisition.
"Core Carriers' customer base includes only a minimal overlap with NFI customers, so increasing the density of our routes in the southeast enhances our ability to better serve both Core Carriers' and NFI's customers," said Jeffrey Brown, President of National Freight. "We're thrilled to have the key management, sales and operations professionals who built Core Carriers into a very successful company continue in place."
In addition to complementing National Freight's freight network, the agreement also enables National to integrate Core Carriers' network with its dedicated fleet operations in the Southeast. As a result, NFI says it will be even better positioned to optimize lane management for its dedicated contract carriage customers in that region.
The acquisition increases the NFI fleet nationally to over 1,700 tractors with 2,000 drivers and more than 5,300 trailers. The agreement also enables NFI to project annual revenues that will exceed $500 million in 2003.