International logistics provider DB Schenker recently moved to bolster its North American capacity by acquiring USA Truck.
DB Schenker reportedly agreed to pay $31.72 per share despite the USA Truck’s stock value hovering around $14.58 per share. After assuming the freight operation’s total debt, the deal will land north of $435 million. The acquisition appears consistent with a growing trend of global organizations positioning themselves to offer clients end-to-end freight transportation services. Given the ongoing port and rail hiccups, securing a unified supply chain can prove profitable, if not vital.
“USA Truck is the perfect match for DB Schenker’s strategic ambition to expand our network in North America and foster our position as a leading global logistics provider,” DB Schenker CEO Jochen Thewes reportedly said. “In our 150th anniversary year, we are pleased to welcome one of the leading trucking and logistics providers to DB Schenker. Together we will enhance our shared value proposition and invest in exciting growth opportunities and sustainable logistics solutions for new and existing clients.”
Kenan Advantage Group Buys American PetroLog
Considered one of the largest tank truck and logistics operations in North America, Kenan Advantage Group added to its asset by acquiring American PetroLog. Louisiana-based American PetroLog focuses on logistics, storage, and transportation largely for chemicals, oil-based lubricants, biofuels, and other hazardous materials.
“There are tremendous synergies between our two organizations, which we plan to capitalize on as we hit the ground running on day one. American PetroLog has an impeccable reputation in our shared end markets and is committed to solving the complex supply chain challenges of our combined customers today and our potential customers in the future,” KAG Logistics president Kevin Spencer reportedly said.
American PetroLog President and CEO Jeff Colonna is expected to join KAG Logistics, a subsidiary of Kenan Advantage Group. He indicated the deal’s timing comes when customers are concerned about supply chain delays.
“By joining KAGL, we are even better positioned to meet the unique needs of our customers in the liquid bulk/petrochemical space going forward,” Colonna reportedly said.
Honor Foods Increases Redistribution Capacity in Western U.S.
Honor Foods’ parent company, Burris Logistics, recently acquired R.W. Zant, a foodservice redistributor with a footprint in Los Angeles. The move improves the cold chain assets and freight brokerage for all parties. The family-owned operations appear to be a seamless fit in the cold storage and perishable food niche.
“This acquisition provides both Zant and Honor customers with new product offerings that can streamline their procurement and logistics processes and operations. The depth and breadth of core categories like protein, dairy, and frozen vegetables and fruits, in addition to traditional value-added foodservice items, ensures our customers that they are getting the best product selection at the best pricing,” Honor Foods president Walt Tullis reportedly said.
Sources:
https://ajot.com/news/honor-foods-expands-its-redistribution-capabilities-to-the-western-us
https://www.freightwaves.com/news/german-3pl-db-schenker-buying-usa-truck-for-435-million
https://ajot.com/news/honor-foods-expands-its-redistribution-capabilities-to-the-western-us
Leave a Comment