NFI acquires World Warehouse and Distribution
March 08, 2011
Cherry Hill, New Jersey-based NFI, an asset-based third-party logistics (3PL) services provider said this week it has acquired World Warehouse and Distribution, a Champlain, NY-based 3PL and warehousing services provider with facilities in Champlain and Albany, NY and Montreal.
Financial terms of the deal were not disclosed. World Warehouse and Distribution provides services for shippers in various industries, including pharmaceuticals, perishable and non-perishable manufacturers and distributors, beverage manufacturers and distributors, and sporting good retailers.
NFI officials said that World Warehouse will remain a separate entity within NFI’s Warehousing and Distribution division, adding that this deal adds almost one million square feet to warehouse and distribution space managed by NFI, bringing the total amount of warehouse space owned or managed by NFI to more than 19 million square feet.
“World Warehouse is a perfect addition to the NFI family as its warehouse assets mesh with our goal of expanding cross border capacity and our transportation network throughout North America,” and NFI spokesman told LM. “The location, assets and customer base were the key factors in the desirability of World Warehouse.”
NFI CEO Sidney Brown said in a statement that this acquisition is part of NFI’s strategic plan to increase its footprint in Canada, building on its June 2010 acquisition of IPD Global, which has since been re-named to NFI Canada, to expand cross-border services and within Canada.
“By the end of 2011, NFI will operate over 1 million square feet of distribution space in four cities in Canada and manage close to $75M in transport-related revenues,” said Brown. “This acquisition expands NFI’s network of third party logistics and warehouse services, and further enhances our cross border capacity and capabilities. In turn, NFI provides the World Warehouse customer base with access to a vast network of integrated logistics services and supply chain solutions.”
The four Canadian cities NFI will operate more than 1 million square-feet of distribution space are Edmonton, AB, Mississauga, ON, Toronto, ON and Montreal, QC.
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