Celadon buys Arkansas trucking firm

December 4, 2008

Indianapolis long-haul trucking firm Celadon Group Inc. has acquired the assets of Continental Express Inc., a trucking company headquartered in Little Rock, Ark., for $24 million in cash.

The assets include 400 tractors and 1,100 trailers - enough to boost Celadon's rolling capacity by about 13 percent. Also included are Continental's truckload, intermodal and brokerage businesses.

Celadon assumed no Continental liabilities.

Celadon shares rose 17 cents this afternoon, to $7.66 each.

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