LAS VEGAS, July 9, 2020 /PRNewswire/ -- Ultimate Holdings Corporation, (Next10, Inc., dba Ultimate Holdings Corporation), (USOTC PINK: NXTN), ("UHC"), is pleased to announce that on, or about, August 1, 2020, UHC plans to acquire two privately held Boise, Idaho transportation freight hauling-related companies: Ultimate Logistics, LLC and Ultimate Innovations, LLC. Following the transaction, when consummated, each LLC would be a wholly owned subsidiary of UHC.
As part of this purchase, UHC would be acquiring approximately 80 newer model semi-tractors and approximately 85 newer model 53' refrigerated trailers.
The two companies being acquired had a combined gross revenue of more than $17,500,000.00 for 2019. Despite the uncertainties caused by COVID-19, both companies have remained profitable during 2020.
The existing management and the existing phenomenal Ultimate Teams for the two companies will remain on board. Management of the companies being acquired are looking forward to a strategic partnership with UHC. "The trucking industry has experienced challenges in being able to hire new drivers and retain drivers. We do not have that challenge. We have proudly invested in our drivers, carriers, and infrastructure to profitably build our businesses. We are excited that UHC supports our unique, one-of-a-kind approach."
Ultimate's extraordinary Lease-To-Own Program, along with the fact the two companies are somewhat recession proof, (since the majority of the loads hauled by Ultimate are refrigerated, or frozen food products), is paving the way for many more years of continued growth, prosperity, and success.
The best is yet to come.
Safe Harbor Statement: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Ultimate Holdings Corporation