CD & L S2 (AMEX:CDV)
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From Jun 2019 to Jun 2024
CD&L Repurchases Its Indianapolis Operation
SOUTH HACKENSACK, N.J., March 17 /PRNewswire-FirstCall/ -- CD&L, Inc. , one of
the nation's leading providers of customized, time- critical delivery services
announced that on March 1, 2004, the company had consummated the repurchase of a
previously owned courier and distribution operation in Indianapolis, Indiana.
The acquisition will support and enhance our business growth opportunities in
Indiana. Consideration for the repurchase includes cancellation of a certain
note owed by the Seller of approximately $1.6 million plus a three year earn out
based on net revenue.
CD&L, Inc., based in South Hackensack, N.J., operates 86 facilities in 21
states, with annual revenues of approximately $195,000,000.The Company has
over 1,300 employees and utilizes approximately 2,200 independent contractors to
provide time-sensitive delivery services to thousands of customers across the
country.
This press release contains certain forward-looking statements regarding future
of the Company. These forward-looking statements include comments on the
Company's future business development in the Indianapolis area. These
forward-looking statements involve certain risks and uncertainties that may
cause the actual events or results to differ materially from those indicated by
such forward-looking statements. Potential risks and uncertainties include,
without limitation, the risk that revenues and profits of the acquired Company
will decrease or fail to improve over historical results, or that the Company's
management group will be unable to effectively and profitably integrate the
acquired business into CD&L's business or realize operational savings from the
combination or that management will be unable to maintain its level of customer
services or maintain or increase its market share or that Indianapolis will not
continue to be a growing market and may decline or other risks specified in the
Company's SEC filings.
DATASOURCE: CD&L, Inc.
CONTACT: Russell Reardon, CFO of CD&L, Inc., +1-201-487-7740