A subsidiary of Hawaii-based shipping company Matson, Inc., will acquire a freight company that moves goods to Alaska.
Matson Logistics, Inc., will acquire 100 percent of the equity of Auburn, Washington-based Span Alaska Transportation LLC for a cash purchase price of $197.6 million, Matson said in a press release.
Span Alaska provides less-than-container load freight consolidation and forwarding services to Alaska.
"The acquisition of Span Alaska underscores Matson's long term commitment to Alaska and our mission to move freight better than anyone," said Matt Cox, president and CEO of Matson, in a statement. "This investment will significantly expand Matson Logistics' platform into freight forwarding in Alaska."
In 2014, Matson also announced that it would purchase the Alaska operations of competitor Horizon Lines, Inc. That sale closed last year.
The Span Alaska transaction is expected to close in the third quarter of 2016.