WSJ: Digital freight startup CDL 1000 acquires rival NEXT Trucking

THE WALL STREET JOURNAL reports:

Digital freight broker CDL 1000 acquired competitor NEXT Trucking in an equity deal that extends consolidation in the struggling, technology-focused business of matching trucks and shipments.

The agreement combines Chicago-based CDL 1000’s business, which manages loads on short-haul routes between seaports and warehouses, with similar services at Long Beach, Calif.-based NEXT Trucking focused on the nation’s busiest container port complex at Los Angeles and Long Beach in Southern California.

CDL 1000 didn’t reveal terms of the deal. Andrew Sobko, the company’s founder and chief executive, said the acquisition as well as the November 2023 purchase of Hickory Transportation Services, a Jacksonville-Fla.-based freight broker focused on the U.S. Southeast, will expand the company’s services and boost its nationwide reach…

The full post is here.

More here… and then, if interested, please read this: “CDL 1000 Acquires NEXT Trucking: A Strategic Move Reshaping Logistics”…