Trucking news and briefs for Dec. 3, 2024:
30-truck tanker fleet Hagen Johnson acquired by Heniff
Heniff Transportation Systems (CCJ Top 250, No. 64) has acquired 30-truck food grade tanker hauler Hagen Johnson Trucking. Terms of the transaction were not disclosed. Not included in the deal is Reedsburg, Wisconsin-based Korth Transfer.
Heniff Founder and CEO Bob Heniff noted three of his company's operating divisions -- Carry Transit, Total Clean, and Heniff Logistics -- benefit most from this transaction, and Heniff plans to combine Janesville, Wisconsin-based Hagen Johnson’s food-grade tank truck fleet, kosher tank-cleaning operation, and Liquid Freight brokerage business with its corresponding divisions. Overdrive sister publication CCJ reported the news here.
Lowell C. Hagen founded Hagen Trucking as a milk hauler in 1979. Johnson, Hagen’s son-in-law, joined the business in 2004 and helped launch the third-party logistics division in 2008.
Heniff operates approximately 2,000 trucks and 5,000 trailers through a network of over 100 locations, with expertise in chemical transport, food-grade transport, rail transloading, ISO depot operations, equipment maintenance, tank cleaning services, and logistics.
“This new partnership equips the Hagen Johnson Group to continue its uninterrupted growth strategy within the bulk carrier industry, make investments in new technologies and innovative equipment, and improve services for our valued customers,” Theresa and Brandon Johnson, Hagen Johnson co-owners, stated. “Our team very much looks forward to working with our counterparts at the Heniff family of companies.” --Jason Cannon
[Related:Schneider acquiring Cowan Systems for $390 million]
Reefer rates pull back from recent gains during Thanksgiving week
The latest weekly rates snapshot from FTR Transportation Intelligence and Truckstop showed a mixed bag of rates performance over the low-volume Thanksgiving holiday week on the spot market.
Total load activity plunged 45%, a normal drop for the week including Thanksgiving. A year-over-year comparison with the same week in 2023 shows volume up this year by 4.4% by total load postings.
The average broker-posted spot rate, however, was more or less flat -- down 1 cent -- after rising with a pre-Thanksgiving bump for the first time in five weeks the prior week. In recent years, the week after Thanksgiving (normally week 48 but week 49 this year) produces increases in dry van and refrigerated rates, so be on the lookout in the brokered markets for opportunity now. Flatbed spot rates changes have been inconsistent.
[Related: Kick the tires on Overdrive's new 'Load Profit Analyzer' tool]
