Allen Lund Company's Eddie Lund Discusses Acquisition of Des Moines Truck Brokers
LA CAÑADA FLINTRIDGE, CA - Merger and acquisition activity is always hot, hot, hot news here at AndNowUKnow, but we especially love when a respected company is getting in on the action. Recently, we reported on the Allen Lund Company’s (ALC) acquisition of Des Moines Truck Brokers (DMTB), and I had the chance to sit down with Eddie Lund, ALC President, to learn more exclusive details on the transaction.
“It does what we do,” Eddie noted. “It's pretty prominent in the produce world and the food world, so it’s very similar to what we do here at Allen Lund Company, but it brings in more customers that we can now offer an entire network of offices to help with. If it had a customer where it was handling only part of their business, now we can offer them our full capabilities and a bigger network in general. We really didn’t have a lot of overlap with our customer base and so you just have a whole new group of customers coming in who can hopefully use our services.”
One of the main reasons that Des Moines Truck Brokers was chosen for this acquisition was due to the company’s history and culture.
“I don’t know if this is the right way to do this,” Eddie explained with a laugh, “but when we’re looking at acquiring someone, we think it’s best for them to get to know us better and for us to get to know them. The culture is the biggest thing. Fortunately, we’ve known Jimmy [DeMatteis, President and CEO, DMTB] for a long time now, and he’s done amazing things for this industry. He’s built up a great team at DMTB. After we got to know the company, we were even more eager than ever to add it to the ALC team.”
With similar backgrounds aligning the two companies further, these family-owned businesses have found the right match in the other. DMTB provides expertise in the protein world and a strong produce office network in the Midwest, all reasons that Allen Lund is overjoyed to have the company as part of the family.
As we keep our fingers on the pulse of the produce world, keep reading AndNowUKnow for the latest.