The $365 million deal, the company’s largest purchase since 2012, expands C.H. Robinson’s reach in internet-based freight brokerage.
Freight brokerage company C.H. Robinson has finalized its acquisition of internet-based broker Freightquote.
The deal was first announced Dec. 2. Eden Prairie, Minn.-based C.H. Robinson will pay $365 million in cash for Kansas City-based Freightquote. The company financed the acquisition and related fees and expenses with the proceeds from an amended five-year, $900 million credit facility.
Freightquote operates primarily in less-than-truckload brokerage, with a smaller presence in truckload brokerage and intermodal. The deal is C.H. Robinson’s biggest since it acquired the freight forwarder Phoenix International in 2012 for $635 million.
C.H. Robinson finalizes Freightquote acquisition
