US-based third-party logistics providers (3PL) CH Robinson has expanded anew its global presence with the acquisition of APC Logistics, a freight forwarding and customs brokerage services firm in Australia.
CH Robinson disclosed it completed the acquisition ammounting up to $229 million (AU$300 million), paying related fees and expenses with cash and funds drawn from the company’s existing revolving credit facility.
Headquartered in Eden Prairie, Minnesota, CH Robinson believes APC brings additional capabilities and expertise to the company’s portfolio.
“The company expects the transaction to be modestly accretive to earnings,” CH Robinson said in its statement.
Incorporated in 2000, APC Logistics claims to have over 3,000 customers and suppliers in Australia and New Zealand. It operates in more than 110 locations in 60 countries, managing 200 logistics facilities covering over 20 million square feet globally.
With the acquisition, CH Robinson will add a new region to its global forwarding division the Oceania, and APC will onboard onto CH Robinson’s global technology platform the Navisphere.
CH Robinson chairman and CEO John Wiehoff said the marketplace response to the acquisition has been extremely positive since the announcement.
Meanwhile, APC Logistics CEO Tony Considine said that with the acquisition, APC customers will have an extraordinary opportunity to benefit from the additional services and scale of CH Robinson.
As a 3PL firm, CH Robinson’s portfolio of logistics services include fresh produce sourcing and managed services for more than 110,000 customers and 68,000 contract carriers through its integrated network of 280 offices and more than 13,000 employees. The company’s gross revenues hit $13.5 billion last year.