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Golden Triangle Ventures to acquire Cargo Management Group of Miami, the the investment firm announced May 24.
The acquisition will support Golden Triangle Ventures’ plan to enhance the operations of its wholly-owned subsidiary Lavish Entertainment, a concert production company, which seeks to develop and acquire operations in logistics, staffing, equipment and production. Terms of the deal were not disclosed.
Cargo Management Group, a provider of trucking, transportation, brokerage and last-mile services, also maintains “high-paying specialty cargo in the gaming industry that transports slots to locations across the country,” according to the release.
Golden Triangle Ventures, known by its stock symbol GTVH, is a consulting group focused on health, entertainment and technology. Located in the Las Vegas area.
“The acquisition of Cargo Management Group and its operations provides GTVH with a steady stream of revenue to support its ambitions,” said Tom Zarro, owner of Cargo Management Group and largest bondholder in the investment firm. “The trucking and freight brokerage industry, being recession-proof, scalable and profitable, aligns perfectly with their goal.”
Zarro is confident Golden Triangle Ventures will grow Cargo Management Group, a business he helped start in 2011, he said.
“With the expertise of the GTVH team, I have no doubt that they will significantly expand this business far beyond my current capabilities given my time constraints,” he said. “Entrusting a trusted business partner to manage the company I’ve built will allow me to focus on new ventures.”
The timeline for the acquisition was not disclosed. Golden Triangle Ventures has been working to complete the deal and transfer ownership of Cargo Management Group’s logistics management, brokerage, licenses and other assets since late last month.
The investment company plans to integrate all types of trucking and add heavy cargo to its logistics division.
Cargo Management Group made nearly $3 million in revenue in 2023, according to the release. It currently has contracts with JB Hunt Transport Services, CH Robinson Worldwide, Coyote Logistics and Echo Global Logistics.