Menlo Worldwide, LLC has agreed to acquire Cougar Express Logistics, a third-party logistics provider based in Singapore, and serving Southeast Asia. Menlo, the global logistics unit of Con-way Inc., is paying $28.2m in cash, and assuming $5.7m in debt, in a deal that involves the purchase of Cougar Express and its parent company, Cougar Holdings Pte Ltd. Cougar Express offers freight forwarding, warehousing, logistics and distribution management, with personnel and facilities in Singapore, Malaysia and Thailand. It covers 12 operating locations in the region, serving nearly 200 Asia-based and global businesses. Revenues in the most recent fiscal year were US$23m. Menlo and Cougar called the combination a good fit, due to the companies' shared focus on the automotive, consumer, industrial and high-tech industries. They also serve a number of common customers. In the process, Menlo deepens its service and marketing presence in Singapore, with regard to ocean freight consolidation and deconsolidation, freight forwarding, cross-border customs brokerage and inland trucking. Menlo also gets an expanded presence in the automotive business, picking up Cougar's operations in finished vehicle logistics. And it gains a foothold in the wine and spirits distribution market in Singapore, where Cougar has emerged as "a dominant player," the partners said.
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