Jack Cooper Transport, a leading Atlanta-based finished vehicle hauler, has solidified an agreement to acquire Moore Transport, a well-regarded car carrier company headquartered in Tulsa, Oklahoma. This strategic acquisition, set to finalize on August 11th, will see Jack Cooper integrate Moore Transport’s assets, notably around 240 car carrier trucks, into its operations. The move is aimed at significantly strengthening Jack Cooper’s service capabilities for major Original Equipment Manufacturer (OEM) clients and expanding its logistical presence along the East Coast and throughout the Midwest region.
Jack Cooper car carrier trucks, representing the expanded fleet after the acquisition of Moore Transport
This acquisition comes as Jack Cooper Transport continues its growth trajectory following a period of restructuring. In 2019, Jack Cooper Ventures, the parent company at the time, underwent Chapter 11 bankruptcy protection. However, under new ownership by Solus Alternative Asset Management, the company has embarked on a path of renewal, including a commitment to invest $20 million annually in fleet modernization, aiming to add 100 new vehicles each year until 2023. By November 2019, Jack Cooper announced the successful completion of its restructuring, having significantly reduced its debt by approximately $350 million and addressed a substantial $2 billion underfunded pension liability.
Sarah Riggs Amico, executive chairperson of Jack Cooper, emphasized the strategic importance of this acquisition, stating, “Jack Cooper is the second largest motor vehicle carrier, and the largest carrier with a unionized workforce, in America. We are honored to be working with, and acquiring the assets of, a company like Moore Transport.” She further acknowledged the strong leadership of Gary Moore, CEO of Moore Transport, highlighting the company’s “stellar service, while maintaining a superior fleet and an excellent workforce.”
Gary Moore, who transitioned from owning multiple Ford dealerships in North Texas and Oklahoma to establishing Moore Transport, also commented on the acquisition. “Jack Cooper sets the standard for innovative and exemplary service in our industry. When Moore Transport was approached by Jack Cooper, we were thrilled to find shared values and operational synergy. We trust that they will be an excellent steward of our equipment, our workforce and our legacy,” Moore stated, indicating a positive outlook for the future integration of Moore Transport into Jack Cooper’s operations. The acquisition of Moore Transport is poised to enhance Jack Cooper’s position in the automotive logistics sector, particularly in key regions across the United States.
