||United States : Odyssey Logistics & Technology Corporation Announces Intent to Acquire AFF Global Logistics
||Odyssey Logistics & Technology Corporation (Odyssey) a global logistics leader that provides comprehensive multi-mode service and technology solutions across a diverse customer base, announced that it has entered into an agreement to acquire AFF Global Logistics (AFF), a third-party logistics provider and freight forwarder operating in global markets, with acknowledged market leadership in providing door-to-door domestic forwarding for U.S. offshore markets (Alaska/Hawaii/Puerto Rico).
The acquisition of AFF, headquartered in Fife, WA, supports Odysseys core strategy of operating an asset-light logistics business with the scope and scale to be a critical partner to both shippers and carriers worldwide. The capabilities of the combined organization will allow Odyssey to approach customers with a differentiated solution for their entire supply chain, competing effectively against the markets leading logistics companies.
The highly desirable acquisition of AFF continues Odysseys expansion into the complex global multi-modal logistics services arena that often presents considerable competitive barriers to market entry, said Bob Shellman, president and chief executive officer, Odyssey. AFFs load consolidation expertise, U.S. offshore markets coverage, warehouse network and Asia Pacific import business will markedly enhance Odysseys strong truck, rail, marine and facility networks. This transaction reflects Odysseys commitment to continuous growth and expansion of services, which we expect will be complementary and provide a broader range of services to both Odyssey and AFF global customers.
AFF represents Odysseys largest strategic acquisition to date, adding over 35 global locations and 600 employees, which will raise Odysseys workforce to more than 2,400 worldwide.
Odyssey is a recognized global logistics leader, providing comprehensive supply-chain solutions across a diverse customer base, said Kevin Kelly, chief executive officer, AFF Global. I am excited about the accretive benefit that this transaction will produce, and can assure our dedicated employees, valued customers and key suppliers that our teaming with Odyssey will expand our capabilities, while maintaining the level of service and confidence in AFF that we have established over our many years of association.
The transaction is expected to close by year-end subject to satisfaction of customary closing conditions.
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