HUNTSVILLE, Ark. — Arkansas-based poultry carrier Lew Thompson & Son Trucking Inc. has been purchased by Covenant Logistics Group Inc. for around $100 million.
The sale was announced by Covenant in late April during an earnings report call
Based in Chattanooga, Tennessee, Covenant’s deal also includes an earnout of up to $30 million, which depends upon Lew Thompson & Son’s performance over the next three years.
The poultry hauler, headquartered in Huntsville, Arkansas, generated around $64 million in revenue in 2022.
“We are very pleased to welcome the entire Lew Thompson & Son team to the Covenant family,” Covenant Chairman and CEO David Parker said. “We pursued Lew Thompson & Son because of their proven track record of operating a first-class dedicated contract carrier business in a niche market, which we believe has less sensitivity to economic cycles and opportunities to grow. We believe the backing of Covenant will provide additional resources to expand Lew Thompson & Son to best meet the needs of their strong customer base.”
Lew Thompson & Son has more than 230 trucks and 400 trailers, according to its website, while Covenant has around 2,040 trucks and 5,237 trailers in its fleet.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
