Media reports have French logistics company adding venerable U.S. 3PL in what would be the latest in a string of major acquisitions in the third party logistics market.
The French global logistics company Geodis is said to be nearing a deal to acquire U.S.-based third party logistics provider Ozburn-Hessey Logistics, according to various media outlets.
The deal would reportedly see Geodis pay $800 million, and would be the latest in a string of acquisitions in the fast consolidating logistics industry.
Recent large deals include XPO Logistics buying Norbert Dentressangle, Echo Global Logistics acquiring Command Transport, Kintetsu Express buying APL Logistics, Japan Post buying Toll Holdings, Greenbrier Equity taking a controlling stake in SEKO Logistics, FedEx acquiring GENCO and express competitor TNT in Europe, and UPS acquiring Coyote Logistics.
Geodis has expanded significantly in recent years through acquisition as it aims to become a global provider of transportation and contract logistics. Notably among those acquisitions were deals for TNT Freight Management, Wilson Logistics, and IBM Logistics.
According to the 3PL market analysts Armstrong & Associates, Geodis is a top 15 global logistics company. Tennessee-based OHL, meanwhile, is a well-regarded provider across a range of logistics services, including transportation management, import and export logistics, contract logistics, and customs brokerage. The company sold off its truck brokerage business in 2012 to XPO.
Requests for comment from Geodis and OHL were not immediately answered.
Geodis rumored to be buying OHL in $800 million deal
