The French logistics provider has received the necessary regulatory approvals and officially completed its purchase of Nashville, Ten.-based Ozburn-Hessey Logistics for an undisclosed sum, giving the company a stake in U.S. 3PL market.
French logistics provider Geodis has received the necessary regulatory approvals and officially completed its purchase of Nashville, Ten.-based Ozburn-Hessey Logistics, according to a statement from the company.
Financial terms of the deal, effective today, Nov. 3, were not disclosed.
Acquiring OHL, an iconic name in the U.S. logistics market a leading global third-party logistics provider, gives Geodis a clear footprint in North America that it previously lacked, despite being a top five 3PL in Europe. OHL operates over 120 value-added distribution centers in North America with over 36 million square feet of flexible warehouse space, providing supply chain management solutions that include transportation, warehousing, customs brokerage, freight forwarding, and import and export consulting services.
With over 8,000 transportation and fulfillment employees, OHL’s annual revenue exceeds $1.3 billion, according to Geodis. Geodis expects the combined company to generate annual revenues of over $8.76 billion with more than 38,000 employees and 165,000 customers.
“The acquisition is a great achievement for GEODIS and a significant step toward our ‘Ambition 2018’ strategic plan – to be the global growth partner for our clients,” Geodis CEO Marie-Christine Lombard said in a statement. “This acquisition allows us to offer a market leading set of solutions on a global level with enhanced expertise at each phase of the Supply Chain.
“I’m delighted to welcome Randy Curran, CEO of OHL, as a new member of GEODIS’ Executive Committee,” she added. “His in-depth knowledge of the US market and global experience will add greatly to our leadership team.”
“The merger of our two companies makes outstanding sense. It’s a great opportunity for OHL and its employees to join GEODIS which is recognized for its high quality service level, professionalism and broad global, logistics capabilities,” said Curran. “By offering GEODIS’ European customers our capabilities and opening to our US based customers GEODIS’ global capabilities in the EU and elsewhere, we aim to enhance our existing customer relationships and attract new ones. From the beginning, the cultural fit between our two companies has been remarkable and will be a source of strength going forward.”
Geodis finalizes OHL acquisition
