PHOENIX, Feb. 20, 2013 /PRNewswire/ -- PTA Holdings,
Inc. (Pink Sheets: PTAH) announced today that it has completed due
diligence for the purchase of Eggspress, an Iowa based motor carrier 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 throughout the Midwest.
Leonard J. Lewensohn, Chief
Executive Officer stated that "we are making real progress as the
company pursues its acquisition roll-up strategy. The
Eggspress deal will bring an expected revenue base of approximately
3-5 million dollars annually to our
company along with a blue-chip customer base." He further
stated that, "PTA Holdings, Inc. will continue its focus on
expanding the business by implementing its targeted acquisition
strategy of transportation companies."
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
annually. 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 logistics 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.
Notice on Forward-Looking Statements:
This
news release includes forward-looking statements regarding PTA
Holdings, Inc. and its business. Such statements are based on
management's current expectations. The forward-looking events and
circumstances discussed in this release may not occur and actual
results could differ materially as a result of known and unknown
risk factors and uncertainties. Forward-looking statements speak
only as of the date on which they are made and PTA Holdings, Inc.
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
For more information, visit
http://www.ptaholdings.net Telephone
(877)-636-4520
Investor Relations Contact: ir@ptaholdings.net
SOURCE PTA Holdings, Inc.