CHRW inks agreement to acquire Apreo Logistics S.A.

By Jeff Berman, Group News Editor
September 10, 2012 - LM Editorial

Global logistics services provider and freight forwarder C.H. Robinson Worldwide Inc. (CHRW) recently announced it has agreed to acquire Warsaw, Poland-based freight forwarder Apreo Logistics S.A.

Financial terms of the acquisition were not disclosed. CHRW said that the transaction’s closing is conditional on clearance from the Polish Office for Competition and Consumer Protection. CHRW officials were not available for additional comment.

Apreo provides various services for shippers, including dry van and temperature-controlled and liquid and dry bulk capabilities as well as warehouse, air, and ocean services and was founded in June 2007. The company has gross revenues of more than $100 million and has more than 2,000 customers and 300 employees in 21 offices in Poland and an office in Germany, too, said CHRW.

“This acquisition expands C.H. Robinson’s presence in Europe and supports our goals to strengthen our capabilities in our core business and further diversify our modal offering, both of which benefit our European and global customer base,” said Bryan Foe, the newly-named president of C.H. Robinson Europe in a statement.

Bringing Apreo into the fold follows a July announcement by CHRW, when its subsidiary C.H. Robinson Europe opened a new office in Rotterdam, Netherlands, which will specialize in temperature-controlled logistics services.

The company said it is continuing to take a long-term approach towards Europe and is increasing its commitment to the continent.

Robert W. Baird & Co. analyst Ben Hartford wrote in a research note that CHRW “continues to take a long-term view toward expanding its presence in Europe with acquisition opportunities providing a platform to accelerate growth.”

Hartford added that CHRW has highlighted an interest in pursuing companies with European truck brokerage exposure and international freight forwarding capabilities to supplement ongoing diversification and growth efforts, noting that over the long term, CHRW continues to view service and geographic diversification as key elements of the company’s value proposition.

Total second quarter revenue for CHRW—at $2.96 billion—was up 9.2 percent annually.



About the Author

Jeff Berman headshot
Jeff Berman
Group News Editor

Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

83% of surveyed manufacturers either already have IoT implementations in place or plans to deploy within a year.

While the Port of Oakland agrees that Saturday gate operations might ease congestion, they have a few "concerns" of their own

The four international marine container terminals at the Port of Oakland have announced they are developing a program to operate their terminal gates on Saturdays to reduce weekday congestion at the port.

Private fleet managers are facing a remarkable set of challenges in today's demanding business environment. The "from any place at any time" omni-channel fulfillment mindset is just one significant development that companies have had to adapt to in their quest to keep customers and business partners happy.

This is the first guaranteed weekly service direct to the U.S. from Singapore as part of the company’s initiative to enhance its LCL offerings serving Trans-pacific needs.

Article Topics

News · 3PL · Global Logistics · C.H. Robinson · All topics

About the Author

Jeff Berman, News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA