Golden Triangle Ventures, Inc. (“GTV” or the “Company”) announced it has received financial commitment to launch an internal, full-service freight brokerage business which aims to significantly expand its logistics capabilities. This initiative follows the successful acquisition of Cargo Management Group from TK Zarro, LLC which included a logistics operation, brokerage business, licenses, and all associated assets. Management is working to complete the full transition of Cargo Management Group and its logistics brokerage operation that can provide an additional income stream with a strong growth potential.
The new freight brokerage business will leverage current infrastructure that was recently acquired along with extensive industry relationships of Cargo Management Group, which generated nearly $3 million in revenue for 2023. The recent acquisition includes a portfolio of contracts with industry leaders such as J.B. Hunt, C.H. Robinson, Coyote Logistics and Echo Global Logistics. These established partnerships will enable Cargo Management Group to provide comprehensive logistics solutions, including freight brokerage services, to its diverse clientele. After the full transition of the business is complete, Cargo Management Group looks forward to providing the unique ability to fully meet clients' needs with its assets and manage overflow through brokerage services.
To ensure a successful launch of its freight brokerage business, Cargo Management Group will establish a new location and call center to drive sales and manage operations efficiently. The Company received full financial support from TK Zarro to obtain state-of-the-art freight brokerage software, Transportation Management System (TMS), and load board subscriptions to streamline all operations and improve service delivery. Additionally, plans to hire and train skilled freight brokers, dispatchers, and customer service representatives are in motion to ensure a high level of expertise and efficiency in handling logistics operations. A comprehensive marketing strategy is being developed and will be implemented to attract new clients and build strong industry partnerships.
The freight brokerage industry, led by companies like Echo Global Logistics and Coyote Logistics, shows strong growth potential. Echo Global Logistics reported over $3 billion in revenue for 2023, while Coyote Logistics, a UPS company, continues to set high standards. GTV plans to follow these successful models, aiming to become a recognizable player in the industry, drive revenue growth and increase shareholder value. Industry leaders such as C.H. Robinson, J.B. Hunt, and Coyote Logistics have seen significant growth in share price and business expansion, a path GTV is preparing to follow.
