Minneapolis, Minnesota(August 31, 2016) — C.H. Robinson continues to grow its global presence and today announced it has entered into a definitive agreement to acquire APC Logistics, a leading provider of freight forwarding and customs brokerage services in Australia and New Zealand. The two companies have had a long-standing exclusive agent relationship for business in Australia and New Zealand. The agreement is subject to certain customary closing conditions, including regulatory approval.
“This acquisition allows us to add great talent to our Global Forwarding team and advances the strategy to expand our global network,” said John Wiehoff, Chairman and Chief Executive Officer of C.H. Robinson. “We will work hard to successfully integrate the valued employees, customers and suppliers of APC.”
APC Logistics is a privately held international freight forwarder, providing ocean, air, customs brokerage and consultancy services, currently serving over 3,000 customers and suppliers. Founded in 1974 and headquartered in Melbourne, Australia, APC Logistics employs approximately 300 people and has seven offices in Australia and two offices in New Zealand. APC had $334.2 million AUD (approximately $251 million USD) in total revenues for the fiscal year ended June 30, 2016. C.H. Robinson intends to purchase APC Logistics for approximately $300 million AUD (approximately $225 million USD) in cash. The acquisition is expected to be accretive in 2016 and 2017 and will be financed through cash and funds drawn from C.H. Robinson’s existing revolving credit facility.
Raed more at chrobinson.com