Indiana-based trucking company Celadon Group Inc., just completed the acquisition of Tango Transport, an 800-truck carrier based in Shreveport, Louisiana.
The acquisition was announced on October 2nd and finalized on October 14th.
Celadon’s CEO and Chairman, Paul Will, recently commented on the acquisition. “We are delighted with the Tango acquisition and expect it to fulfill one of our immediate goals of continuing to grow our business with our existing customer base by adding density in our primary traffic lanes and gaining experienced drivers,” he said.
As soon as the acquisition was announced, 80 Tango employees received notice that they were being let go in order to cut costs and eliminate redundant positions.
Tango was founded in 1991 by Robert E. Gorman and his son B.J. Gorman. In 2014, the company generated more than $90 million in revenue. The terms of the acquisition were not disclosed.
Tango has shipped dry goods for clients such as General Motors, FedEx, Temple-Inland, International Paper, Academy Sports, Land O’Lakes, Wal-Mart, Unilever, Dial, J. M. Smuckers and Owens Corning.