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8/29/2024
Pinsly Railroad Co. yesterday announced a definitive agreement to acquire Hondo Railway LLC, a short line in Hondo, Texas, just west of San Antonio.
The purchase is subject to regulatory approval, according to a Pinsly news release.
Founded in 2006, Hondo Railway serves shippers of commodities such as flour, corn syrup, ethanol and plastic pellets. Hondo provides customers with interchange access to BNSF Railway Co. and Union Pacific Railroad, and access to 80,000 feet of industrial track for use in transloading and storage of rail cars.
Hondo and its team will help Pinsly diversify its commodity mix as well as geographic location, said Pinsly Railroad CEO Ryan Ratledge.
Based in Jacksonville, Florida, Pinsly is focused on growth from existing customers and through acquisitions, company officials said. Over the past two years, Pinsly has purchased four railroads, bringing its total railroad holdings to six.