Wheaton to Acquire Bekins; Deal Joins Competing Movers

Two of the 10 largest U.S. household goods carriers are about to be combined, as Wheaton Van Lines Inc. said on Feb. 11 it intends to acquire smaller competitor Bekins Van Lines in March.

Wheaton, Indianapolis, said in a statement it’s working on an asset purchase agreement with Bekins, Hillside, Ill. No terms were announced.

“It’s rare to have an opportunity to acquire a brand like Bekins, a company that truly helped to create the moving and storage industry, an innovator in that space and brand that’s so well recognized,” said Mark Kirschner, CEO of Wheaton Van Lines.

Wheaton ranks No. 8 on Transport Topics list of the largest household goods carriers, and Bekins ranks No. 9, with combined revenue of $251.3 million in 2010.

Wheaton didn’t return calls requesting comment.

But the company’s statement said they intend to operate Wheaton World Wide Moving and Bekins Van Lines as separate brands.

“Consolidation in the relocation industry is inevitable as the market shrinks with the economy,” Kirschner said. “Acquiring the Bekins brand and becoming partner to 130 Bekins agents will allow the van line to grow its market share overall and put us in an even better position to compete moving forward.”

The two companies will have a total of 370 agents nationwide, including 240 from Wheaton and 130 from Bekins, said the statement from Wheaton.

The change will result in the closing of Bekins’ current headquarters, the statement said, and the transfer of about 38 workers to Indianapolis.

The statement did not say if Bekins workers could potentially lose their jobs.