Lakeland Trucking Firm Bought by FedEx
Watkins Motor Lines is being bought by FedEx Corporation.
The Lakeland Ledger says the deal to purchase Watkins is being finalized today. The Memphis-based company is purchasing the Lakeland trucking company for $780 million dollars.
Company officials say the rebranding of Watkins Motor Lines and Watkins' Canadian carrier, will begin immediately. The companies include more than 140 service centers and more than 14,000 tractors and trailers.
The companies will be re-branded FedEx National LTL and FedEx Freight Canada.
FedEx CEO Frederick Smith said in a written statement that 'These strategic additions to the FedEx portfolio offer more flexibility and greater value to shippers.' Watkins has been based in a former department store in downtown Lakeland.
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