Mergers and Acquisitions

Kirby Corporation Buys CGBM 100’s Tank Barge Fleet

Kirby Corporation announced November 12 that it has signed an agreement to acquire substantially all of CGBM 100, LLC’s inland marine tank barge fleet for an undisclosed amount.

Under the terms of the agreement, Kirby will acquire 27 of CGBM 100’s 10,000-barrel inland marine tank barges that have a total capacity of approximately 270,000 barrels. The acquisition is expected to close in the fourth quarter of 2018 and is subject to customary closing conditions.

CGBM 100 is headquartered in Kenner, La.