is acquired by NFI
Mar 8, 2011 10:03 AM
Supply chain systems company NFI has announced the acquisition of World Warehouse and Distribution, a third-party logistics and warehouse company headquartered in Champlain NY with facilities in Champlain and Albany NY and Montreal, Canada.
World Warehouse will remain a separate entity under the umbrella of NFI’s Warehousing and Distribution division. The acquisition of World Warehouse will add nearly one million additional square feet to the warehouse and distribution space managed by NFI, bringing its total warehouse space owned or managed to more than 19 million square feet.
“Acquiring World Warehouse is part of our strategic plan to increase our footprint in Canada. This transaction continues to build upon our previous acquisition of IPD Global—now NFI Canada—expanding our services cross-border and within Canada. By the end of 2011, NFI will operate over 1 million square feet of distribution space in four cities in Canada and manage close to $75M in transport-related revenues,” said Sidney Brown, NFI chief executive officer.
World Warehouse provides transportation and logistics systems for a variety of industries including pharmaceuticals, perishable and non-perishable manufacturers and distributors, and beverage manufacturers.
Kevin O’Shea, president of World Warehouse, will remain in his role as president.
With $900 million in gross revenue in 2010, NFI’s purchase of World Warehouse marks the tenth acquisition it has made in as many years. The company has 5,600 employees, more than 19 million square feet of owned or managed warehouse space in the United States and Canada, 2,000-plus tractors, 500 refrigerated trailers, and more than 6,700 dry trailers.
Founded in 1932 as National Hauling, NFI has evolved from a trucking company in a regulated environment, into one of the largest privately held integrated supply chain solutions providers in North America. It is headquartered in Cherry Hill NJ.
© 2013 Penton Media Inc.