- C.H. Robinson has acquired The Space Cargo Group to expand its logistics with an emphasis on air and ocean shipping.
- Space Cargo provides international freight forwarding, customs brokering and other logistics services in Spain and Colombia.
- The purchase was for about $48 million in cash and is expected to be accretive to the company.
- C.H. Robinson’s business serves five continents and 32 countries, from 125 offices and is the leading non-vessel operator in China.
According to Packer, C.H. Robinson has acquired The Space Cargo Group, Madrid, expanding its logistics reach with an emphasis on air and ocean shipping.
Enhanced logistic services
According to a C.H. Robinson news release Space Cargo provides international freight forwarding, customs brokering and other logistics services in Spain and Colombia.
The purchase reflects C.H. Robinson’s strategy of an expanding global presence, Bob Biesterfeld, chief operating officer and CEO-elect.
Biesterfeld said in the release, “We look forward to working with Space Cargo’s customers to offer our full suite of logistics services to enhance their supply chains. Space Cargo’s leadership, expertise, and strong customer and carrier relationships, combined with C.H. Robinson’s global service offerings and network, will also create more robust capabilities for our customers and add scale to our business“.
Accretive value
The purchase was for about $48 million in cash and is expected to be accretive — adding value to C.H. Robinson’s bottom line — by the end of the year.
Space Cargo has seven offices in Spain and one in Colombia. For the fiscal year ending December 31, Space Cargo had approximately $84 million gross revenues.
About the company
C.H. Robinson’s Global Forwarding business serves five continents and 32 countries, from 125 offices, according to the release, and is the leading non-vessel operator from China to the U.S.
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Source: thepacker
