C.H. Robinson acquires Space Cargo Group
C.H. Robinson has expanded its global network with the acquisition of The Space Cargo Group. The latter is a provider of international freight forwarding, customs brokerage, and other logistics services in Spain and Colombia. C.H. Robinson purchased Space Cargo for approximately EUR 42 million in cash. The acquisition is expected to be accretive in 2019.
Headquartered in Madrid, Space Cargo has about 170 employees and seven offices in Spain, as well as one office in Colombia. For the fiscal year ending 31 December 2018, Space Cargo posted around EUR 74 million in gross revenues.
"Space Cargo’s expertise and strong customer and carrier relationships, combined with our global service offerings and network, will also create more robust capabilities for our customers and add scale to our business," said Bob Biesterfeld, COO and CEO-elect of C.H. Robinson. (mw)