Movers Making Big Moves in the Industry
A late first quarter move by Wheaton Van Lines makes them the fourth largest household goods carrier in the United States. Wheaton Van Lines acquisition of Bekins Van Lines is expected to be finalized by Mid March 2012 that will hand over assets and ownership to Wheaton who’s already valued at annual combined revenue in excess of $250 million.
The acquisition of Bekin will allow the brand of Wheaton to increase its agency base from 240 agents to almost 370 nationwide. There won’t be a marriage of the brands; they will continue to operate as separate entities. Main operations will be headquartered in Indianapolis where Wheaton Van Lines is currently while the Bekins office in Hillside, Ill. will be shut down.
With the brands together, they will now be able to offer private, corporate, domestic, and international relocation services across the country. Mark Kirschner, CEO of Wheaton Van lines says
“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,”
“Consolidation in the relocation industry is inevitable as the market shrinks with the economy. But 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 acquisition will help the brand reach new markets and ultimately grow the client base in lacking areas. Wheaton Van Lines will no longer have just the Military as their largest customer with an approximate 370 total agents nationwide.