Odyssey Logistics & Technology Corp., which provides comprehensive multimode service and technology products across a diverse customer base, is acquiring AFF Global Logistics for $465 million in a combination of cash and equity.
Headquartered in Fife, Washington, AFF is a third-party logistics provider and freight forwarder operating in global markets. One of its specialties is providing door-to-door domestic forwarding for offshore U.S. markets such as Alaska, Hawaii and Puerto Rico.
The acquisition is the largest in Danbury-based Odyssey Logistic”™s history, adding more than 35 global locations and 600 employees, which will raise Odyssey”™s workforce to more than 2,400.
“AFF”™s load consolidation expertise, U.S. offshore markets coverage, warehouse network and Asia Pacific import business will markedly enhance Odyssey”™s strong truck, rail, marine and facility networks,” said Odyssey Logistics President and CEO Bob Shellman. “This transaction reflects Odyssey”™s commitment to continuous growth and expansion of services, which we expect will be complementary and provide a broader range of services to both Odyssey and AFF global customers.”
The transaction is expected to close by year-end subject to satisfaction of customary closing conditions.
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