Third-party logistics firm Becker Logistics purchased Savage Logistics, the freight brokerage division of Savage Cos., with the goal of expanding Becker’s geographic reach, building its core product services, and growing annual revenue. Terms of the deal were not disclosed.
Glendale Heights, Ill.-based Becker Logistics is a non-asset-based 3PL working primarily in food commodities serving the United States and Canada. It also operates offices in Chicago and Barrington, Ill.
Becker Logistics President Jim Becker said his firm had grown organically an average of 50% year-over-year from 2012 to 2017. This year the firm is generating gross revenue of about $6 million a month, he said, and believes that now is the time for an acquisition to take it to the next level with annual revenue. He predicts the combination with Savage Logistics will help spur gross revenue of $100 million in 2018.
“We will now have about 60,000 asset-based companies in our database, and many of [Savage’s] are in the Southeast, Canada and the West,” he said.
Savage Logistics is a full-service, non-asset-based provider covering agricultural equipment, recyclables, paper, flooring, trade shows, beer, wine, spirits, plastics and food. It offers van, flatbed, overdimensional, refrigerated trailer, warehousing, intermodal, less-than-truckload and specialized transportation. It has offices in Chicago, Duluth, Ga., and Eugene, Ore. Founded in 1983 as Trans Dynamics, Savage Co. bought the company in 2014.
The acquisition will strengthen the combined firm’s focus on food grade material and help in the transition to the electronic logging device mandate, Becker said.