DSC Logistics has announced its intent to transfer majority ownership to CJ Logistics, pending regulatory and other customary approvals. The decision marks further advancement of DSC’s strategy of continuous transformation and continuity plan.
“CJ Logistics is the right fit, at the right time,” said Ann Drake, CEO of DSC Logistics. “CJ shares our passion for dynamic supply chain leadership and will provide a global platform for DSC, while DSC will provide a platform of expertise, capabilities and leadership in the US.”
The transaction is expected to close in the third quarter of 2018. Through the agreement, Ann Drake will remain as Chair of the DSC Advisory Board and retain minority ownership. The company’s senior leadership will remain in place, with Ed Bowersox as President, David Copeland as Chief Financial Officer, and Kevin Coleman as Chief Customer Officer. The company’s corporate offices will remain in Des Plaines, IL.
DSC was founded in 1960 by Jim McIlrath on Chicago’s Southside as Dry Storage Corporation. Ann Drake joined the company in the 1990’s to build DSC Logistics. The pending acquisition signals a third new chapter in the company’s story of 58 years of growth and change.
Keun Tae Park, President of CJ Logistics commented: “Following our market expansion into China and Southeast Asia, we are pleased to join forces with DSC Logistics in the US. We look forward to combining our technical capabilities and network to create synergies and to become a market leader in US logistics, especially in the warehousing and distribution space.”
“Together with DSC Logistics, CJ looks forward to maximizing customer value and being the preferred global SCM innovator partner in the US,” added Pious Jung, CEO of CJ America. “We have a shared vision to become a top-5 global logistics company.”
Source: DSC Logistics
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