“Together, Forward and Omni will create a category leader in the expedited LTL (less-than-load) market, built on precision execution,” a news release states. “With a differentiated service offering, industry-leading team and expanded geographic footprint, the combined company will offer high-value freight to its expedited LTL network. The combination of these complementary businesses uniquely positions Forward to accelerate its ‘Grow Forward’ strategy and deliver long-term value to shareholders, customers, employees and other stakeholders.”
Tom Schmitt, chairman and chief executive officer of Forward Air, called the announcement “exciting.”
“…we are pleased to welcome the Omni team to the Forward family,” he added. “Together, we are now uniquely positioned to be the premier provider of choice in high-quality freight transportation to a larger customer base with an expanded domestic footprint.”
Forward will provide more details on its Grow Forward strategy, including targeted outcomes as well as additional information on its management structure and board composition, when it conducts its Q4 and FY 2023 earnings conference call in February 2024, according to the news release.
“One of the defining characteristics of our corporate culture is that we do not wait around for good things to happen, we go out and make them happen,” Schmitt said. “We are approaching this important next phase with a sense of urgency and are committed to delivering on a clear and measurable plan designed to meet the needs of our customers, create opportunities for our teammates, and generate long-term value for our shareholders.”
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.