CTI Logistics
(ASX:CLX) has announced the acquisition of an interstate road and rail transport and warehousing business trading as Jayde Transport.
The company is being purchased for $6.5 million and will be settled on 30 October 2017.
The acquired company operates in all states with facilities in Melbourne, Adelaide and Perth.
Its container operation at Fremantle wharf near Perth has not been included in the purchase.
It has been a family-owned business for 37 years, with the family owner Harvey Mack staying on until December 2018 to assist with a smooth transition.
Shares in CTI Logistics
(ASX:CLX) last traded at $1.05.
