UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
September 14, 1998
Date of Report (Date of earliest event reported)
CONSOLIDATED DELIVERY & LOGISTICS, INC.
(Exact name of Registrant as specified in its charter)
Delaware 0-26954 22-3350958
(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) Number) Identification No.)
380 Allwood Road, Clifton, New Jersey 07012
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code) (973) 471-1005
NOT APPLICABLE
(Former name or former address, if changed since last report.)
ITEM 5. Other Events
On September 14, 1998, Consolidated Delivery & Logistics, Inc.
acquired substantially all assets of Eveready Express Corp.
Attached hereto is the press release describing the transaction.
ITEM 7. Exhibits
c. Exhibits
99.1 Press Release issued September 17, 1998 regarding
acquisition of Eveready Express Corp.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Dated: September 28, 1998 CONSOLIDATED DELIVERY & LOGISTICS, INC.
(Registrant)
By: /s/ Albert W. Van Ness, Jr.
___________________________
Albert W. Van Ness, Jr.
Chairman of the Board, Chief Executive
Officer and Chief Financial Officer
Exhibit 99.1
FOR IMMEDIATE RELEASE,
CONTACT:
Bob Schu
Mark Carlesimo, General Counsel Bernadette McLaughlin
Consolidated Delivery & Logistics, Inc. Towey & Associates
(973) 471-1005 (212) 888-7600
FAX (973) 471-5519 FAX (212) 888-7686
CONSOLIDATED DELIVERY & LOGISTICS INC. ACQUIRES THIRD COMPANY IN LAST NINETY
DAYS
Clifton, NJ (September 17, 1998) - Consolidated Delivery & Logistics, Inc.
(NASDAQ:CDLI) today announced that it has acquired Eveready Express Corporation,
a same day courier company providing rush, scheduled and dedicated in-house
courier services in the New York City market place.
Albert W. Van Ness, Jr. Chairman of CD&L said, "This acquisition will add
approximately $2.4 million in annual revenue and will further expand our already
strong market position in the New York metro market. As importantly, we will
also realize immediate administrative and back office cost savings by merging
this business into our existing Northeast Region infrastructure. This is yet
another example of the strategic and disciplined expansion program that we
identified as a primary objective for 1998. This transaction, coupled with the
two previously announced acquisitions made in the last ninety days, adds
approximately $14.5 million of annualized revenue to CD&L's core business".
This press release contains certain forward-looking statements regarding future
events or the future financial performance of the Company. These forward-looking
statements include comments on the Company's future business development,
revenue growth and acquisitions. These forward-looking statements involve
certain risks and uncertainties that may cause the actual events or results to
differ materially from those indicated by such forward-looking statements.
Potential risks and uncertainties include without limitation the risk that the
Company will lack satisfactory merger or acquisition candidates and/or have an
inability to conclude acquisitions or mergers on satisfactory terms, will be
unable to obtain acquisition financing on satisfactory terms, or achieve cost
savings or additional profits contemplated by the Company's business management
strategy, or be able to profitably integrate KBD and Metro into the CD&L service
system or other risks specified in the Company's SEC filings.
Consolidated Delivery & Logistics, Inc. headquartered in Clifton, New Jersey is
a full service, same day ground and air delivery and logistics company with 60
offices in 23 states and the District of Columbia. The Company has nearly 3,000
employees and utilizes over 1,000 independent contractors in providing time
sensitive delivery services to thousands of businesses.