Citing the advantages of access to additional financial resources, expertise in rail and rail transloading, a broader portfolio of tier one customers as well as access to more established corporate infrastructure, Albacor Shipping announced it will be acquired by BNSF Logistics of Grapevine, Texas, a subsidiary of BNSF Railway (Burlington Northern Santa Fe Corporation), one of the largest U.S. railways, and part of Berkshire Hathaway.
BNSF Logistics is a 10 year old company with expertise in full and less than truckload brokerage, rail and rail transload services, international ocean and air import and export services, and customs house brokerage service. BNSF Logistics’ Domestic Operations are headquartered in Springdale, Arkansas, and its International Operations are headquartered in Dallas, Texas. BNSF Logistics has approximately 23 domestic and international operating locations across the United States, had annual revenues of approximately $400 million dollars in 2012, and has enjoyed consistent double digit annual growth over its history.
It was important for Albacor to identify a North American acquirer in order to maintain Albacor’s business model of partnering with other European 3PL’s and help them service the North American markets while not being perceived as a direct competitor, thus allowing Albacor to continue to leverage its European relationships to grow business in Europe, Russia and Asia.