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.
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