Bassett to Acquire All of Zenith Freight

January 21, 2015  by in Acquisition, Delivery, Industry   

The transaction is expected to close early February.

Bassett made an initial investment in the logistics service company in 1999.

Rob Spilman Jr., Bassett president and CEO, said the timing to acquire the balance of the company makes sense now because the Hawn family, Zenith’s other owners, are addressing estate planning.

Under the new ownership structure, Jack Hawn will remain president and CEO of Zenith, and Deborah Hawn will remain executive vice president.

“Since (1999), the strategic significance of the partnership has risen to include the over the road transportation of furniture, the operation of regional wholesale distribution centers in eight states, and the management of various home delivery facilities that service Bassett Home Furnishings stores and other clients in local markets around the United States,” Spilman said. 

The Hawns will continue to manage Zenith in the same manner they have for the last decade, Spilman said.  

"Zenith represents the life's work of the Hawn family," Jack Hawn said. "I am very proud of the best of class furniture transportation and logistics services company that we have built over the past 40 years. I am also proud to count many furniture retailers, manufacturers, and distributors as valued clients and as personal friends. It is in this light that Deborah and I plan to continue to lead the Zenith team in serving our current customers and gaining the trust of new ones as we expand our nationwide furniture supply chain platform in the future."

Spilman said the company will strive to create operating efficiencies to produce enhanced performance for the combined Bassett—Zenith entity.