Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns show up across LANDSTAR SYSTEM's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the deals below are the evidence.
3 acquisitions. Each entry carries the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.
On September 20, 2017, Landstar Metro, S.A.P.I. de C.V. (Landstar Metro), a newly formed subsidiary of the Company, acquired substantially all of the assets of the asset-light transportation logistics business of Fletes Avella, S.A. de C.V., a Mexican transportation logistics company. Landstar Metro provides freight and logistics services within Mexico; Landstar Servicios provides administrative, financial, operational, safety and compliance services to Landstar Metro. $8.46 million (cash consideration paid in fiscal 2017 for the Landstar Metro asset acquisition).
On September 20, 2017, Landstar Metro, S.A.P.I. de C.V. (Landstar Metro), a recently formed subsidiary of the Company, acquired substantially all of the assets of the asset-light transportation logistics business of Fletes Avella, S.A. de C.V., a Mexican transportation logistics company. In connection with the acquisition, individuals affiliated with the seller subscribed in the aggregate for a 30% equity interest in each of Landstar Metro and Landstar Metro Servicios S.A.P.I. de C.V. (Landstar Servicios), while the Company owns a 70% interest in each.Landstar System FY2017 10-K — Item 1 Business description
On May 6, 2020, the Company formed a new subsidiary subsequently renamed Landstar Blue, LLC (Landstar Blue), which arranges truckload brokerage services while helping the Company develop and test digital technologies and processes for the benefit of all Landstar independent commission sales agents. On June 15, 2020, Landstar Blue completed the acquisition of an independent agent of the Company whose business focused on truckload brokerage services. approximately $2,766,000 cash, plus approximately $200,000 of assumed contingent purchase-price liabilities.
On June 15, 2020, Landstar Blue completed the acquisition of an independent agent of the Company whose business focused on truckload brokerage services. Cash consideration paid for the acquisition was approximately $2,766,000. In addition, the Company assumed approximately $200,000 in liabilities consisting of additional contingent purchase price. The resulting goodwill arising from the acquisition was approximately $2,871,000.Landstar System FY2020 10-K — Acquired Business note
On January 29, 2019, Landstar acquired all of the remaining equity interests in Landstar Metro and Landstar Servicios held by their former minority equityholders, who had owned approximately 21% in the aggregate as of December 29, 2018. As of that date, Landstar Metro and Landstar Servicios each became wholly owned subsidiaries of the Company. $0.6 million (cash consideration paid in fiscal 2019 to purchase the remaining minority equity interests).
On January 29, 2019, Landstar acquired all of the remaining equity interests in Landstar Metro and Landstar Servicios held by their former minority equityholders. Accordingly, as of such date, Landstar Metro and Landstar Servicios each became wholly owned subsidiaries of the Company.Landstar System FY2020 10-K — Item 1 Business description