Jardine Transport to buy New Brunswick-based trucking firm R.E.M
The company's chairman said the deal will scale-up Jardine's operations and increase its network density
DARTMOUTH, N.S.—Nova Scotia trucking company Jardine Transport Ltd. has a acquired Saint Stephen, New Brunswick-based competitor R.E.M Transport Ltd.
Jardine said July 12 it has bought all shares of the long-haul trucking firm, which operates a fleet of about 50 trucks in Canada and the U.S. and employs approximately 70 workers.
It did not disclose the value of the acquisition, but Dean Cull, Jardine’s chairman, said the deal is an important strategic move for the company.
“The acquisition adds scale to our existing operations and increases network density, which will result in improved overall efficiency,” he said in a statement.
Jardine is owned by Halifax investment firm Seafort Capital after being acquired in a 2015 deal.