Werner Enterprises has acquired FirstFleet for $245 million, adding $615 million in revenue and 2,400 tractors. Werner now ranks as the fifth-largest dedicated provider in the U.S. The deal includes 11,000 trailers and 37 facilities for FirstFleet, with a focus on grocery and packaging companies. Werner expects $18 million in annual synergies from the acquisition. The deal is expected to immediately boost earnings and free cash flow. Werner plans to retain FirstFleet’s management team and operate from Tennessee. Shares of WERN were up 4.9% after the announcement.

Read more at Yahoo Finance: Werner acquires dedicated carrier FirstFleet for $245M