Press Release Example

Gilbert Corp. Acquires Freddie Co. in Strategic and Cash Deal

Chicago, IL; Philadelphia PA – Gilbert Corp., a leading frozen food producer, has revealed its acquisition of Freddie Co., a premier transportation company specializing in trucking distribution services across the Midwest and Mid-Atlantic regions. Through a hybrid cash-stock combination, the acquisition values Freddie Co. at a 24% premium to its pre-announcement stock price of $19 per share, demonstrating Gilbert’s commitment to enhancing logistics and improving operating efficiencies.

Through this merger, Gilbert Corp. anticipates annual cost savings of $15 million, largely achieved through the elimination of duplicative public company functions. By integrating Freddie Co.’s expertise, Gilbert Corp. aims to streamline its supply chain, enabling quicker, cost-effective delivery of frozen products to both retailers and customers.

“This acquisition marks a transformative step for Gilbert Corp,” remarked its CEO. “Freddie Co.’s exceptional trucking network complements our operations impeccably. By uniting our organizations, we are positioned to achieve substantial efficiencies.”

As part of the deal, Freddie Co.’s CEO, along with another representative from Freddie Co.’s current board, will join Gilbert’s board of directors. Their experience will provide vital insights in transportation logistics as Gilbert Corp. continues to strengthen its operational foundation.

Freddie Co.’s President and CEO expressed enthusiasm for the partnership, stating that “this merger represents a powerful combination of industry expertise and operational excellence. Joining forces with Gilbert Corp. allows Freddie Co. to achieve greater scale and deliver enhanced service to our customers while driving long-term growth.”

The Board of Directors of both companies have approved the transaction, with completion targeted for [Q1 2025], pending regulatory approvals and customary closing conditions.

About Gilbert Corp.

Gilbert Corp. specializes in delivering high-quality and convenient frozen food products to consumers nationwide. With a focus on innovation and sustainability, Gilbert Corp. continues to expand its offerings and enhance operational performance.

About Freddie Co.

Freddie Co. is a premier transportation provider across the Midwest and Mid-Atlantic regions, known for its reliability and operational excellence. Freddie Co. serves a diverse clientele across various industries.