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Penske Logistics Inks Deal to Acquire Transfreight North America

Penske Logistics has reached agreement to acquire Transfreight North America, a provider of third-party logistics and supply-chain services, from Mitsui & Co., Ltd.

Penske Logistics Inks Deal to Acquire Transfreight North America

Transfreight currently operates at 27 locations across the Midwest, Canada and Mexico. Headquarters are in Erlanger, KY and Kitchener, Ontario. Penske Logistics president Marc Althen said the deal provides "a very complementary mix of business and services, as well as new team members from a highly customer-focused culture." Terms of the acquisition were not disclosed. The parties said they anticipate closing the transaction within 30 to 45 days. Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, with operations in North and South America, Europe and Asia.

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Transfreight currently operates at 27 locations across the Midwest, Canada and Mexico. Headquarters are in Erlanger, KY and Kitchener, Ontario. Penske Logistics president Marc Althen said the deal provides "a very complementary mix of business and services, as well as new team members from a highly customer-focused culture." Terms of the acquisition were not disclosed. The parties said they anticipate closing the transaction within 30 to 45 days. Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing, with operations in North and South America, Europe and Asia.

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Penske Logistics Inks Deal to Acquire Transfreight North America