Kenan Advantage Group has acquired Northern Dry Bulk, the company announced Feb. 13.
The addition will launch a new service offering for KAG.
“The acquisition of Northern Dry Bulk establishes a definitive entrance into the dry bulk transportation business for our company and perfectly aligns with our strategic growth initiatives to expand into new end markets,” said EVP of Specialty Products John Rakoczy.
The transaction provides another option for liquid bulk customers who also manufacture and distribute dry bulk materials, he said.
Northern Dry Bulk of Clare, Michigan, specializes in transporting and storage of plastic resins for automotive, packaging, electronic and other end markets, in the U.S. and Canada, according to the announcement.
Northern employees, including drivers, technicians and support staff will be retained by Kenan, the company said. Per Federal Motor Carrier Safety Administration data, Northern Dry Bulk had 38 drivers earlier this year.
The deal also includes 36 tractors, 91 trailers and two terminals with two maintenance bays, warehouse space and transloading offerings.
Northern Dry Bulk was launched with one truck in 1994, Owner and President Tom Kunse said.
“By joining forces with KAG, both of our current and future customers will benefit from our shared knowledge, geographic footprint, and assets in a marketplace positioned for significant growth opportunities,” he said.
Kunse, who also is Michigan state representative, plans to stay with the company for six months to assist with the transition then devote more time to his elected office, he told Trucking Dive in an email.
North Canton, Ohio-based Kenan has made several acquisitions in recent years. In June 2022, it acquired American PetroLog in Lafayette, Louisiana, and followed up that deal with its purchase of Connectrans Logistics of Toronto, Ontario, in October 2022.
In October, Kenan announced its acquisition of Milk Transport of Burley, Idaho, and then acquired Florida Food Tankers of Lake Wales, Florida, in December.
