Des Moines transport giant Ruan is acquiring a Michigan trucking company in what it says is an unusual move.

National Truck Brokers Inc., which hauls grocery items in seven states, including Iowa, will continue to operate as a separate, independent operation under the Ruan umbrella, Ruan said in a news release.

The 270-employee, Grand Rapids-based NTB, like Ruan, had been family-owned, and Ruan did not disclose the purchase price.

"Growth through acquisition has been relatively uncommon at Ruan, but we have done so selectively when there's a true, strategic fit and the opportunity to sustain and strengthen relationships with important customers," Ruan CEO Ben McLean said in the news release. "We've found those positive elements at NTB."

Previously:Des Moines businessman, philanthropist John Ruan III dead at 78

"Sometimes charting the best path to accelerating progress and sustainability requires taking strategic leaps like joining forces with the right parent company," Rick Koster, son of NTB founder Dan Koster who had been running the company with his two brothers, was quoted as saying. "This agreement with Ruan provides a great opportunity for NTB to continue to grow and provide stability for our team members and customers."

Bob Elkins, Ruan senior vice president of operations, said one of the first initiatives in Ruan's ownership will be to replace NTB's fleet of more than 235 trucks with late-model Freightliner vehicles.

The trucking industry faces uncertainty amid recession fears, with freight demand softening after reaching record highs while the average price of diesel fuel nationally remains above $5 a gallon. The Washington Post noted this week that big, well-established trucking companies — Ruan, marking its 90th year, ranks among the nation's 50 largest, according to industry publication Transport Topics — are better equipped to survive any industry shakeout that may be coming than smaller firms that bought equipment at inflated prices to expand during the period of high demand.

In addition to the trucking companies, Ruan owns Bankers Trust; Concentric International, a supplier of parts for agricultural and other machinery; truck and trailer sales and commercial auto leasing subsidiaries; and Ruan Properties, which manages holdings including the two Ruan Center high-rises in downtown Des Moines. Transport Topics reported that in 2021, Ruan ranked among the nation's top 50 trucking companies, with net revenue of $860 million and 5,500 employees.

This article originally appeared on Des Moines Register: Des Moines' Ruan buys Michigan-based firm National Truck Brokers