Deal Expands Capacity of Supply Chain Solution Company in North America
NFI, one of the country’s most diverse supply chain solutions companies, today announced the acquisition of World Warehouse and Distribution, a third-party logistics and warehouse company headquartered in Champlain, NY with facilities in Champlain and Albany, NY and Montreal, Canada.
World Warehouse will remain a separate entity under the umbrella of NFI’s Warehousing and Distribution division. The acquisition of World Warehouse will add nearly one million additional square feet to the warehouse and distribution space managed by NFI, bringing the total warehouse space owned or managed by NFI to over 19 million square feet.
“Acquiring World Warehouse is part of our strategic plan to increase our footprint in Canada. This transaction continues to build upon our previous acquisition of IPD Global – now NFI Canada – expanding our services cross border and within Canada. By the end of 2011, NFI will operate over 1 million square feet of distribution space in four cities in Canada and manage close to $75M in transport-related revenues,” said NFI Chief Executive Officer Sidney Brown.
“This acquisition expands NFI’s network of third party logistics and warehouse services, and further enhances our cross border capacity and capabilities,” Brown continued. “In turn, NFI provides the World Warehouse customer base with access to a vast network of integrated logistics services and supply chain solutions.”
World Warehouse provides a wide array of transportation and logistics solutions for a variety of industries, including pharmaceuticals, perishable and non-perishable manufacturers and distributors, beverage manufacturers and sporting goods retailers.
“NFI’s reputation for excellent customer service, strong management and years of proven success promise a seamless transition for everyone. We look forward to being integrated into this powerhouse company, and the ability to better service existing customers and grow our base,” said Kevin O’Shea, President of World Warehouse. O’Shea will remain in his role as President of World Warehouse.
With $900 million in gross revenue in 2010 achieved through organic growth and an aggressive acquisition strategy, the purchase of World Warehouse marks the tenth acquisition that NFI has made in as many years. The company’s growth strategy has positioned NFI as a nationwide integrated supply chain solutions provider with 5,600 employees, over 19 million square feet of owned or managed warehouse space in the US and Canada, and over 2,000 tractors and more than 6,700 dry trailers and 500 refrigerated trailers.