USA: Pinsly Railroad Co has entered into a definitive agreement to acquire the Hondo Railway in Texas, subject to regulatory approval.
Hondo Railway was founded by Don Lee and Mark Holland in 2006. Located west of San Antonio, traffic on the 8 km line includes flour, corn syrup, ethanol and plastic pellets. It provides access to both BNSF and Union Pacific, and tracks for transloading and wagon storage.
‘Hondo Railway is a high-quality asset developed by high quality business leaders’, said Pinsly Railroad Chief Executive Officer Ryan Ratledge on August 28. ’Don and Mark, along with their families, have done an amazing job growing this railroad. We are thankful to be able to continue to work alongside Miles and Chase Lee, Don’s son and grandson. We are eager to deploy Miles’s experience on our other six properties where he will work to develop business opportunities, much like he has at Hondo over the years.
‘This railroad and its team are a great addition to the Pinsly family of roads and will further diversify our commodity mix as well as geographic location.’
