Duff Brothers Capital said it has completed its previously announced acquisition of Frozen Food Express for $2.10 per share, in a deal valued at about $38.2 million.
The transaction was unanimously approved by FFE’s board, Frozen Food previously said in a statement.
After the completion of the merger FFE shares were delisted and ceased to be traded on the Nasdaq Stock Market.
Duff is wholly owned by Thomas and James Duff, who also indirectly own KLLM Transport Services, which is ranked No. 74 on the Transport Topics Top 100.
Frozen Food Express is ranked No. 66 on the for-hire TT Top 100 listing of U.S. and Canadian for-hire carriers.