With Nintendo's Wii U now more than a year old, the two remaining members of the triopoly of video game console makers - Microsoft and Sony - are now vying for market share with the latest versions of their signature consoles.More >>
With Nintendo's Wii U now more than a year old, the two remaining members of the triopoly of video game console makers - Microsoft and Sony - are now vying for market share with the latest versions of their signature consoles. More >>
One of the nation's largest temperature controlled trucking companies calls the Capital City home, and KLLM Transport Services is growing. Jackson based KLLM is owned by Duff Brothers Capital out of Columbia, Mississippi.
Duff brothers made a deal last week to acquire Frozen Food Express in Dallas, Tex., which means KLLM president Jim Richards will soon be in charge of a lot more.
"It will double our company in size," Richards said. "Brining about 5,000 employees in total, and about 3,500 power units that we can take to the temperature controlled market."
Richards said KLLM currently has 2,000 employees and 1,600 trucks in their fleet. With the influx of workers and resources the acquisition will soon make KLLM the second largest refrigerated trucking service in the country.
So, from chicken to ice cream, chances are KLLM had a hand in any temperature controlled item in your house.
"70 percent of what we handle is food and/or beverage commodities and things that you would see on your kitchen table on any given night," Richards said.
As of July 2013 KLLM is the fifth largest cold cargo company, and this future growth has been in the making since 2008 when Thomas and Jim Duff bought the transport company.
"It does kind of accelerate our growth plans, and gets us to the point that we're going to build a little quicker," Richards said.
Now enjoying a season of success, the company founded in 1963 has seen it all including moments of uncertainty. Richards has been with the company since 1986 and recalls times of financial instability, such as in the early 2000s.
"It's been very refreshing to have Tommy and Jim (Duff) come into our company," Richards said. "They've been very instrumental in providing the financial means necessary to turn the company around."
FFE is valued at 38 million dollars, and the deal is expected to close in late August/early September 2013.
Duff Brothers has a strong portfolio of Mississippi based companies, including Columbia based Southern Tire Mart and T.L. Wallace Construction. Combined with KLLM their assets generate over $1 billion dollars in annual revenue.