C.H. Robinson continues to expand its global network with its announcement of the acquisition of The Space Cargo Group.
Space Cargo is a provider of international freight forwarding, customs brokerage, and other logistics services in Spain and Colombia.
C.H. Robinson purchased The Space Cargo Group for approximately €42 million in cash. The acquisition is expected to be accretive in 2019 and will be financed through existing cash.
“The acquisition of Space Cargo advances our strategy of expanding our presence globally. We look forward to working with Space Cargo’s customers to offer our full suite of logistics services to enhance their supply chains. Space Cargo’s leadership, expertise and strong customer and carrier relationships, combined with C.H. Robinson’s global service offerings and network, will also create more robust capabilities for our customers and add scale to our business,” Bob Biesterfeld, Chief Operating Officer and CEO-elect of C.H. Robinson said.