Penske Logistics Completes Acquisition of Transfreight North America
READING, Pa., May 8, 2015 — Penske Logistics announced it has successfully completed its planned acquisition of Transfreight North America, a provider of third-party logistics and supply chain solutions, from Mitsui & Co., Ltd. Financial terms were not disclosed.
"We're pleased to have successfully completed the acquisition," said Penske Logistics President Marc Althen. "We look forward to working with the Transfreight team to implement a flawless integration for customers and associates. Transfreight is a customer-focused organization with excellent customer relationships. We are excited about building an even stronger business upon this foundation."
The acquisition adds new customers and associates as well as warehousing, cross-docking, and trucking capabilities to the Penske Logistics business portfolio along with 27 locations across the United States, Canada and Mexico.
About Penske Logistics
Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing. With operations in North America, South America, Europe and Asia, Penske Logistics provides supply chain management and logistics services to leading companies around the world. Penske Logistics delivers value through its design, planning and execution in transportation, warehousing and freight management. To learn more visit www.PenskeLogistics.com. Penske Logistics on social media: Move Ahead Blog, Facebook, Twitter, LinkedIn, Google+ and YouTube.