C. H. Robinson Worldwide (CHRW) Announces Completion of APC Logistics Acquisition
- Futures fall on Brexit worries, Trump's dollar comments
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Trump, Brexit uncertainty hit stocks and dollar, gold jumps
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
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®.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Biogen (BIIB), Forward Pharma (FWP) Enter Settlement and License Agreement; Biogen to Pay $1.25B, Royalties
- Bank of the Ozarks (OZRK) Tops Q4 EPS by 3c
- ParkerVision (PRKR) Says FBR to Advise on Acquisition Strategy
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesEarnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!