C.H. Robinson, a global third party logistics (3PL) company, continues to expand its global presence with its acquisition of Milgram & Company Ltd., a world-class provider of freight forwarding, customs brokerage, and surface transportation in Canada, the company said.
Milgram is a provider of customs brokerage and freight forwarding, in addition to providing surface transportation and warehousing services, to 3,500 active customers. Headquartered in Montreal, Quebec, Milgram employs approximately 330 employees and has six offices in Canada and one office in the United States. Milgram is a gold standard winner of Canada´s Best Managed companiesÂ®. For the fiscal year ending May 31, 2017, Milgram had approximately USD 155.3 million CAD (approximately USD 124 million USD) in gross revenues.
C.H. Robinson purchased Milgram for approximately CDN 62 million (approximately USD 50 million) in cash.
The acquisition is expected to be approximately neutral to earnings in 2017 and slightly accretive in 2018 and will be financed through cash and funds drawn from C.H. Robinson´s existing revolving credit facility.
C.H. Robinson will integrate Milgram into its Global Forwarding division and single global technology platform, NavisphereÂ®.