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One of the last privately owned bus companies in the region has passed the keys to a new owner.
This week, Coach USA Inc. of Houston completed its acquisition of Bergenfield-based Red & Tan Enterprises, continuing an industry consolidation that accelerated when NJ Transit began snapping up private companies after it was established in 1979.
Richard A. Capitani, Red & Tan's president, said there would be "no changes whatsoever" in routes, management, or employment.
With Red & Tan on board, Coach is mapping out an even broader presence in New Jersey. It already owns Suburban Transit of East Brunswick, Community Coach of Passaic, Adventure Trails of Atlantic City, and Leisure Line of Mahwah.
And Coach, which went public only last year, is certainly on a roll: the Red & Tan acquisition was one of four regional lines the company this week announced it was adding to its portfolio....