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Jan. 18, 2013 /PRNewswire/ -- PTA Holdings, Inc. (PINKSHEETS: PTAH) which recently completed the Nortford LLC acquisition which is expected to add over
5 million dollars in revenues in 2013 is pleased to announce that it has entered into an LOI for the purchase of Eggspress, an
Iowa based transportation company serving the egg and agricultural industry. Eggspress will strengthen the company's service capability as it expands its footprint servicing the distribution of these products. The Eggspress transaction will bring an expected revenue base of approximately
3- 5 million dollars annually to the company along with a blue-chip customer base.
Leonard J. Lewensohn, Chief Executive Officer stated that, "We are making real progress as the company pursues its acquisition roll-up strategy." He further stated that, "PTA Holdings, Inc. will continue its focus on expanding the business by implementing its roll-up strategy and adding strategic functional elements of its business plan."
Matthew Spafford, CEO of Eggspress states, "We are pleased to bring Eggspress into PTA Holdings, Inc. along with Nortford, a sister company primarily serving the Egg industry.
Iowa has regained the distinction of being the number one egg producing state and the Iowa Egg Council estimates that there are over 40 million layers producing 9.5 billion eggs. The multiplier impacts on the
Iowa economy are even more impressive with total labor income of
$160 million and value added of
$224 million attributable to direct and indirect impacts of the egg industry on the
Iowa economy. Our combined companies are strategically positioned to capitalize on our expanded service capabilities."
About PTA Holdings, Inc.: PTA Holdings, Inc. is a holding company with a core focus in the automotive and for-hire transportation industry. Kingsley Logistics Group, acquired in June of 2012, is a multi-faceted transportation group providing a broad array of traditional transportation and management services. The focus of the combined companies is to expand the company via a strategic transportation industry roll-up.