The increasing trend of mergers within the freight forwarding and customs brokerage sector continues as a US-based global operator purchases another Australasian company.
US-based C.H. Robinson is completing its’s acquisition of APC Logistics, a provider of freight forwarding and customs brokerage services to more than 3,000 customers and suppliers in Australia and New Zealand.
The $300 million AUD acquisition expands C.H. Robinson’s market presence adding the Oceania region to its global forwarding division.
APC will be taking C.H. Robinson’s global technology platform, Navisphere onboard as it’s operating system.
C.H. Robinson financed the purchase with cash and funds drawn from the company’s existing revolving credit facility. The company expects the transaction to be modestly accretive to earnings.
“With this acquisition, our customers will have an extraordinary opportunity to benefit from the additional services and scale of C.H. Robinson,” says APC Logistics chief executive officer Tony Considine, APC Logistics.
