Dallas, Texas-based Frozen Food Express Industries, Inc. (FFE – Stock Symbol FFEX) and Duff Brothers Capital Corporation have announced Duff Corporation will offer to acquire all of the outstanding shares of common stock of FFE (except shares owned by its affiliates) for $2.10 in cash per share of common stock.
“We are excited about the opportunity to add another leader in the temperature-controlled trucking industry to our family group of businesses,” co-owner Thomas Duff says. “With the synergies and increased capacity that we can gain from the ownership of both FFE and KLLM, we know that we will be able to enhance the quality service that both companies have been providing to their customers.”
The Mississippi-based companies already owned by the Duff family include KLLM Transport Services, one of the largest refrigerated carriers in the United States, Southern Tire Mart the country’s largest independently owned commercial tire dealer and retread manufacturer and T.L. Wallace Construction, one of the largest building contractors in the state.
Source: Duff Brothers Capital