Forward air corporation expands ltl operations with acquisition of land air express

Greeneville, tenn.--( business wire )--forward air corporation (nasdaq: fwrd) (the “company” or “forward”) is executing a growth strategy that involves organic infrastructure investments, such as the ongoing ltl network expansion, as well as inorganic investments, including acquisitions of complementary businesses. as part of its inorganic growth strategy, forward today announced that it has entered into an agreement to acquire the assets of land air express, inc. (“land air express”), a privately held full service expedited ltl provider, for $56.5 million. the transaction is expected to be funded from both cash on hand and the company's credit facility and is expected to close in january 2023.
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