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United States : Arkansas Best Corporation Closes On Acquisition Of Premiumlogistics Company Panther Expedited Services, Inc.
Publish Date : 18-Jun-2012
Arkansas Best Corporation, a leading provider of freight transportation and logistics solutions, today announced it closed on the previously announced purchase of Panther Expedited Services, Inc. (“Pantherâ€), from Fenway Partners LLC, for approximately $180 million, adding that all of Panther’s outstanding debt has been repaid. The $100 million term loan arranged by U.S. Bank National Association for the transaction has also been funded, Arkansas Best said.
“We’re delighted to welcome Panther into Arkansas Best and will immediately begin to offer our customers more end-to-end logistics solutions in response to their complex supply chain needs,†said Arkansas Best President and Chief Executive Officer Judy R. McReynolds.
About Arkansas Best Corporation - Arkansas Best Corporation, headquartered in Fort Smith, Arkansas, is a freight transportation services and solutions provider. Through its various subsidiaries, Arkansas Best offers a wide variety of logistics solutions including: domestic and global transportation of less-than-truckload (“LTLâ€) and full load shipments, expedited and time-definite delivery solutions, freight brokerage, oversight of roadside assistance and equipment services for commercial vehicles, and household goods moving market services for consumers, corporations and the military.
About Panther - Panther is a Seville, Ohio, based asset-light provider of expedited ground and freight forwarding services and one of the largest premium logistics companies in the world. Panther provides door-todoor transportation solutions for more than 11,000 customers worldwide, including Fortune 500 corporations, government agencies and blue-chip transportation service providers. The company was founded in 1992 and will operate as a sister company to ABF Freight System, Inc. within Arkansas Best.
