C.H. Robinson acquires German forwarder
The trucking and logistics group C.H. Robinson has acquired Frank M. Viet GmbH Internationale Spedition, a small international freight forwarding and third-party logistics company based in Hamburg, Germany.
Terms of the acquisition were not disclosed.
C.H. Robinson said that it was acquiring “substantially all of the operating assets and certain liabilities of Viet” through a newly formed German subsidiary.
With annual gross revenues of about $5.6 million in 2002, Viet provides air and ocean international freight forwarding and European truck transportation services to some 400 customers.
“Like C.H. Robinson, it is non-asset based,” the acquiring company said. The takeover will help expand C.H. Robinson’s global freight forwarding operations and its domestic European network, it added.
C.H. Robinson had gross revenues of $3.3 billion in 2002 and is one of the largest third-party logistics companies in North America.