Kenan Advantage Group, a transportation and logistics company located in Jackson Township near the Akron-Canton Airport, has entered the dry bulk sector with the acquisition of Northern Dry Bulk Inc.
The company is based in Clare, Michigan, and specializes in the storage and transportation of plastic resins for automotive, packaging and other markets in the United States and Canada. Kenan Advantage Group announced the acquisition, details of which were not disclosed, earlier this month.
“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,” Kenan Vice President of Specialty Products John Rakoczy said in a prepared statement. “The transaction also fulfills the needs of many of our current liquid bulk customers who also manufacture and distribute dry bulk materials.”
Kenan will retain Northern Dry Bulk’s professional drivers, technicians and operational support members, according to the announcement. The acquisition also includes 36 tractor trucks, 91 trailers, two terminals with two maintenance bays, warehouse space and transloading capabilities.
Tom Kunse, owner and president of Northern Dry Bulk, said the company started in 1994 with one truck and grew into the respected trucking company it is today.
“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 in a prepared statement.
Reach Kelly at 330-580-8323 or [email protected] X: @kbyerREP
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