C.H. Robinson has announced that it has finalised the acquisition of Prime Distribution Services (“Prime”), a provider of retail consolidation and value-added warehouse services in North America, from Roadrunner Transportation for $225m. The acquisition expands C.H. Robinson’s retail consolidation business and brings additional scale, capabilities and expertise to the company. C.H. Robinson financed the acquisition and related fees and expenses with cash on hand and funds drawn from C.H. Robinson’s existing credit facilities. The company expects the transaction to be slightly accretive to earnings in 2020.
Prime will be integrated into C.H. Robinson’s North American Surface Transportation division.
“This is an exciting day for Prime as we bring together the capabilities and incredible talent of C.H. Robinson and Prime to create a leading retail consolidation platform, I would like to thank all of our employees for their continued dedication to our customers and carriers,” said Bill Vechiarella, President of Prime Distribution Services.
Source: C.H. Robinson
