C. H. Robinson Worldwide (CHRW) Announces Completion of APC Logistics Acquisition
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C.H. Robinson (Nasdaq: CHRW) announced that it has finalized the acquisition of APC Logistics, a leading provider of freight forwarding and customs brokerage services to over 3,000 customers and suppliers in Australia and New Zealand. The $300 million AUD acquisition expands C.H. Robinson’s global presence and brings additional capabilities and expertise to the company’s portfolio. C.H. Robinson financed the acquisition and related fees and expenses with cash and funds drawn from the company’s existing revolving credit facility. The company expects the transaction to be modestly accretive to earnings.
“We are excited that APC Logistics is now part of C.H. Robinson,” said John Wiehoff, Chairman and Chief Executive Officer of C.H. Robinson. “The marketplace response to this acquisition has been extremely positive since the announcement. We welcome APC’s customers and suppliers and our new colleagues to C.H. Robinson.”
“With this acquisition, our customers will have an extraordinary opportunity to benefit from the additional services and scale of C.H. Robinson,” said Tony Considine, Chief Executive Officer of APC Logistics. “I would like to thank all of our employees for their continued dedication to providing excellent service to our customers.”
With the acquisition, C.H. Robinson will add a new region to its Global Forwarding division, Oceania, and APC will onboard onto C.H. Robinson’s global technology platform, Navisphere®.
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