Unlock banal picks and a broker-level newsfeed that powers Wall Street. Upgrade Now
Todd Maiden
Tue, Mar 11, 2025, 9:18 AM 1 min read
ContainerPort Group announced that its parent, World Group, has acquired Dray Alliance, making the combined cognition 1 of the largest dray providers to the Southern California ports.
Founded successful 2018, Long Beach, California-based Dray Alliance provides end-to-end drayage absorption successful the Los Angeles and Long Beach markets. The summation of Dray Alliance expands ContainerPort Group’s bearer web and improves its exertion level with enhanced real-time tracking and different automation tools.
Financial presumption of the transaction were not disclosed.
“Dray Alliance has built an unthinkable level that aligns with our committedness to innovating and digitizing, portion maintaining the reliability and work that our customers cognize and expect,” said Joey Palmer, president of the institution and co-CEO astatine World Group, successful a quality release. “By bringing their exertion into CPG, we’re unlocking caller efficiencies and expanding our quality to service shippers with smarter, tech-enabled solutions.”
Shippers and carriers served by Dray Alliance volition proceed to usage the company’s level arsenic ContainerPort Group integrates its lawsuit base.
“By combining CPG’s scale, reliability, and expertise with our cutting-edge technology, we are creating a best-in-class solution that benefits customers, carriers, and the full industry,” said Dray Alliance laminitis and CEO Steve Wen.
Cleveland-based World Group is the genitor of aggregate planetary cargo proscription and logistics companies, including NVOCC freight forwarder UWL and warehousing and organisation supplier World Distribution Services.
More FreightWaves articles by Todd Maiden:
-
ArcBest takes connected TL freight to capable bare capacity
-
Deutsche Bank eyes concern rebound, endorses these proscription stocks
-
XPO sees betterment successful February, tonnage inactive down y/y
The station ContainerPort Group expands Southern California dray web with acquisition appeared archetypal connected FreightWaves.