Logistics operator Dunavant Enterprises acquired Sea Lane Express, a trucking and drayage company operating in the U.S. Southeast, its second acquisition in four months.
Dunavant said the acquisition expands Memphis-based Dunavant Transportation Group's Southeastern intermodal business and will help it benefit from the 2014 Panama Canal expansion.
Sea Lane Express operates terminals in Atlanta and Savannah, Ga., Norfolk, Va., Charleston, S.C., Charlotte and Wilmington, N.C., and Nashville, Tenn., and has about 175 owner-operators.
Terms of the acquisition were not disclosed.
The Sea Lane deal follows Memphis-based Dunavant's purchase of Trans Gulf Transportation of Houston in December, extending its intermodal and drayage business in the U.S. Southwest.
"We felt it was essential to have a presence in the Southeast and along the East Coast," said William B. Dunavant III, president and CEO of Dunavant Enterprises. "Sea Lane Express provides us with that opportunity," he said.
Dunavant began business more than 50 years ago as one of the largest cotton merchants in the world. It sold its cotton business in 2010 to focus on its global logistics, real estate and investment divisions.
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