Wabash intends to purchase Breadner Group

LAFAYETTE, Ind. (Oct. 23, 200) — Wabash National Corp., one of the world’s largest designers and manufacturers of standard and customized truck trailers, has signed a letter of intent to acquire the privately-held Breadner Group-a Kitchener, Ont.-based distributor of new trailers and aftermarket parts.

Wabash said the potential acquisition of the Breadner Group, which has 10 branch locations across Canada and reported revenues of over $100 million in 1999, is part of the company’s strategy to expand its retail branch network across the border. If completed, the acquisition is expected to increase Wabash’s retail revenues by about 25% and bring the number of retail branches to approximately 50 locations across the U.S. and Canada.

The proposal is still subject to the execution of a definitive purchase agreement and conditions to closing, including the approval by both of the companies’ board of directors and satisfactory completion of due diligence.

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