U.S.-headquartered logistics and supply chain management provider C.H. Robinson (NASDAQ: CHRW) has expanded its global network with the US$48 million acquisition of freight forwarder The Space Cargo Group.
The all-cash deal with the Spain-based company was announced on Friday and expected to be expected to be accretive in 2019.
“The acquisition of Space Cargo advances our strategy of expanding our presence globally,” said Bob Biesterfeld, COO and CEO-elect of C.H. Robinson.
“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.”
Space Cargo is a leading provider of ocean and air freight forwarding, in addition to providing customs brokerage and other logistics services, to over 2,500 active customers. It has approximately 170 employees, with seven offices in Spain and one in Colombia.
Last year Space Cargo had approximately €74 million (US$84 million USD) in gross revenues.
“We are excited to join C.H. Robinson, the best third-party logistics provider, and build on the business we have done together for more than 10 years,” said Jordi Pellice, CEO of Space Cargo.
“We believe this partnership will position us to better serve our customers and promote continued growth by leveraging C.H. Robinson’s worldwide network and diverse service offerings.”
C.H. Robinson will integrate Space Cargo into its Global Forwarding division and single global technology platform, Navisphere.
C.H. Robinson’s Global Forwarding business currently serves five continents and 32 countries, with over 4,000 employees and 125 offices worldwide, and is the leading non-vessel operator (NVO) from China to the U.S.