The purpose of this paper is to develop a branch and bound algorithm for the transportation problem with a limited number of company owned vehicles. First, we find an initial solution by solving quasi-assignment subproblem induced by relaxing constraints of the vehicle capacity and illegal tours elimination equations. Second, we build routing from the assignment, and if there is a routings which violates relaxed constraints, we introduce branches of the subproblem in order to remove it. After all branches are searched, we get the optimal solution.