Geodis has completed its acquisition of US logistics group OHL (Ozburn-Hessey Logistics) following regulatory approval of the deal.
Nashville-based OHL has annual sales of €1.2 billion, and the combined group will generate a turnover of some €8 billion. It will have around 400 logistics warehouses in the world, and additional freight forwarding capability. The company, which will be rebranded Geodis, specialises in apparel, electronics, healthcare, food and beverage, and consumer packaged goods.
“The acquisition is a great achievement for Geodis and a significant step toward our “Ambition 2018” strategic plan – to be the global growth partner for our clients,” said CEO Marie-Christine Lombard.
“I’m delighted to welcome Randy Curran, CEO of OHL, as a new member of Geodis’ executive committee. His in-depth knowledge of the US market and global experience will add greatly to our leadership team.”
Curran said: “The merger of our two companies makes outstanding sense. By offering Geodis’ European customers our capabilities and opening to our US based customers Geodis’ global capabilities in the EU and elsewhere, we aim to enhance our existing customer relationships and attract new ones.”
The value of the transaction has not been disclosed by Geodis said it had been financed with available cash resources, and through existing and new debt arrangements.