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The move comes less than one month after Richmond, Va.-based PFG and US Foods called off talks for a planned merger that would have reshaped the food service carrier arena.

The assessment from PwC analysts came after a 2025 that already saw buyers focused on subsectors offering defensible growth, operating efficiency and exposure to high-barrier markets.

The two large unions say a merger would increase safety risks, raise shipping rates and consumer prices, and cause significant disruptions.

More than 60 trade associations and chambers of commerce submitted a letter to the Surface Transportation Board last week opposing Union Pacific's proposed acquisition of Norfolk Southern.

The combined entity would have leapfrogged Sysco at the top of the food service carrier table — serving restaurants, corporate offices, convenience stores, gas stations and truck stops.

Roughly 99% of both railroads’ shareholders voted to support the largest rail merger in history, but the U.S. Surface Transportation Board must still OK it before the deal can be completed.

J&R Schugel celebrated its 50th anniversary in 2024 and became 100% employee owned in 2014. The merger was effective Oct. 31.

The Tennessee-based ground transportation and logistics services provider posted a net loss of $23.8 million, or negative 52 cents a diluted share, for the three months ending Sept. 30.

Equipment rental specialist United reported revenue of $4.23 billion in the most recent three-month period, an increase of 5.9% compared with $3.99 billion in Q3 2024.

USA Truck’s business model does not fit DSV’s vision for asset-light North American on-road operations, the company said in a report accompanying the most recent quarter’s results.