CH Robinson acquires Canadian forwarder Milgram & Company
September 2, 2017: Global third party logistics (3PL) company CH Robinson continues to expand its global presence with acquisition of Canada freight firm Milgram & Company (Milgram). The logistics giant purchased Milgram & Company Ltd. for approximately $62 million CAD (approximately $50 million) in cash. The acquisition is expected to be approximately neutral to earnings […]
September 2, 2017: Global third party logistics (3PL) company CH Robinson continues to expand its global presence with acquisition of Canada freight firm Milgram & Company (Milgram).
The logistics giant purchased Milgram & Company Ltd. for approximately $62 million CAD (approximately $50 million) in cash. The acquisition is expected to be approximately neutral to earnings in 2017 and slightly accretive in 2018 and will be financed through cash and funds drawn from CH Robinson’s existing revolving credit facility.
“Today, we are bringing one of Canada’s most respected forwarding companies into CH Robinson,” said John Wiehoff, chairman and chief executive officer of CH Robinson.
“This acquisition continues our global expansion and marks our third global forwarding acquisition in the past five years.”
Milgram is a leading provider of customs brokerage and freight forwarding, in addition to providing surface transportation and warehousing services, to 3,500 active customers. Headquartered in Montreal, Quebec, Milgram employs approximately 330 employees and has six offices in Canada and one office in the United States.
“We are excited to build on our success providing supply chain expertise and execution, refining processes, and being an integral part of our customers’ businesses,” said Jay Goldman, president and chief executive officer of Milgram & Company.
“We now look forward to collaborating with CH Robinson to grow our presence and provide our customers with the opportunity to leverage CH Robinson’s worldwide network and world-class service offerings.”
CH Robinson’s Global Forwarding business currently serves five continents and 31 countries, with over 4,000 employees and 125 offices worldwide, and is the #1 non-vessel operator (NVO) from China to the United States. Global Forwarding customers leverage CH Robinson’s considerable freight volumes to access available capacity at competitive rates.
“This acquisition strengthens our ability to continue to serve the world’s shippers and help them meet their global supply chain goals,” said Mike Short, president of CH Robinson’s Global Forwarding division.
CH Robinson will integrate Milgram into its Global Forwarding division and single global technology platform, Navisphere.
