The purchase expands American Fast Freight’s global logistics platform by adding, among other things, 2 million square feet of warehouse space and 150 rail spots, according to a statement from the company.
American Fast Freight, Inc. (AFF) has acquired warehousing and third-party logistics provider Grand Worldwide Logistics (GWW), the company announced Thursday.
Headquartered in Fife, Wash., AFF is the largest U.S. domestic ocean freight forwarder specializing in less-than-container-load (LCL) freight shipments, according to the company. Chicago, Ill.-based GWW primarily specializes in warehouse and transport solutions for the beverage/spirits, food, and paper industries, among others.
AFF said it’s purchase of GWW expands the company’s global logistics platform by adding, among other things, over two million square feet of warehouse space and over 150 rail spots.
Financial terms of the deal were not disclosed
“We are extremely excited to have GWW as part of the AFF family of companies,” AFF Inc. President and CEO Kevin Kelly said of the purchase. “In 2015, we expanded our reach into the Caribbean market with the addition of Caribbean Shipping Services. Last year’s acquisition of Global Transportation Services expanded services beyond our primary Jones Act markets of Alaska, Hawaii, Guam, and Puerto Rico. The addition of GWW complements our global logistics platform and will provide many service benefits to current and new customers.”
Dave Schulman, President of GWW, will continue to have an advisory role and has re-invested a significant portion of his sale proceeds into AFF, according to the two companies.
“With the many synergies we share, we will be able to provide new service offerings and value to the customers of both companies,” Schulman said in a statement. “We could not have chosen a better partner for our succession plan.”
American Fast Freight is owned by The Resolute Fund II, L.P., a private equity fund managed by The Jordan Company, L.P., and AFF’s management team. AFF and its affiliated companies provide a range of ocean freight forwarding of dry and temperature control goods, trucking, project logistics and warehousing and distribution services. The company’s core business is ocean freight consolidating and forwarding, historically specializing in the domestic Jones Act markets of Alaska, Hawaii, Guam and Puerto Rico.
AFF acquires Grand Worldwide Logistics
