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Phoenix International is now C.H. Robinson

C .H. Robinson Worldwide Inc., has bought Phoenix International for $635 million in cash and stock to expand its international freight forwarding business The deal was approved and came into effect

 

C.H. Robinson, which arranges freight transport through its 53,000 contracted carriers, said it expects the deal to be modestly accretive in the first year. 

 

Founded by Bill McInerney in 1979, Phoenix arranges shipments for customers via air and ocean. It has more than 2,000 employees in 74 offices worldwide and is owned by McInerney and other executives and employees of the company. 

 

Phoenix generated net revenue of about $161 million in the fiscal year ended June 30. C.H. Robinson reported full-year revenue of $10.34 billion for the year ended December 2011. 

"We see significant long-term opportunity in international forwarding as global trade expands, scale and technology continue to become more important, and shippers increasingly look to transportation providers to provide global services," C.H. Robinson Chief Executive John Wiehoff said in a statement.  

 

The joint company will rank among the 10 biggest Forwarders/NVOCC in the world with a combined Teu volume of almost 500,000. 

 

Pacific Atlanic Line (Israel) Ltd is representing Phoenix in Israel and Jordan.

www.phoenixintl.com

 

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