C.H. Robinson Worldwide to acquire Phoenix International
C.H. Robinson Worldwide reached an agreement to acquire US- freight forwarder Phoenix International
The transport and logistic enterprise C.H. Robinson Worldwide recently announced that it has reached a stock purchase agreement to acquire Phoenix International, a privately-held international freight forwarder. They agreed on USD 571.5 million in cash and approximately USD 63.5 million in newly-issued C.H. Robinson stock. he agreement is subject to certain customary closing conditions, including regulatory approval. Closing of the acquisition is expected to occur in the fourth quarter of 2012.
Phoenix, headquartered in Chicago, Illinois, generated net revenues of approximately USD 161 million and adjusted operating income of approximately USD 48 million in its most recently completed fiscal year, ending as of June 30, 2012. The forwarding company has approximately 2,000 employees, located in 76 offices in 15 countries and primarily provides international freight forwarding services, including ocean, air, and customs brokerage.
Quelle: LogEastics
Portal: www.logistik-express.com