C.H. Robinson has agreed to buy APC Logistics – a provider of freight forwarding and customs brokerage services in Australia and New Zealand.
C.H. Robinson intends to purchase APC Logistics for approximately $300 million AUD ($225 million) in cash. The acquisition is expected to be accretive in 2016 and 2017 and will be financed through cash and funds drawn from C.H. Robinson’s existing revolving credit facility.
The two companies have had a long-standing exclusive agent relationship for business in Australia and New Zealand. The agreement is subject to certain customary closing conditions, including regulatory approval.
C.H. Robinson chairman and chief executive officer (CEO), John Wiehoff says: “This acquisition allows us to add great talent to our Global Forwarding team and advances the strategy to expand our global network. We will work hard to successfully integrate the valued employees, customers and suppliers of APC.”
APC Logistics is a privately held international freight forwarder, providing ocean, air, customs brokerage and consultancy services, currently serving over 3,000 customers and suppliers.
APC had $334.2 million Australian dollar ($251 million) in total revenues for the fiscal year ended 30 June, 2016, and CEO Tony Considine says he believes the move will position APC to better serve customers and foster growth by leveraging C.H. Robinson’s vast network and core service offerings.
C.H. Robinson’s Global Forwarding business currently serves four continents and 37 countries, with approximately 3,500 employees and 109 offices worldwide.
Once the deal closes, C.H. Robinson will integrate APC Logistics into its Global Forwarding division and single global technology platform, Navisphere.