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C.H. Robinson acquires Canadian Milgram & Company
C.H. Robinson, a global third party logistics (3PL) company, continues to expand its global presence with the acquisition of Milgram & Company Ltd. (“Milgram”), a provider of freight forwarding, customs brokerage and surface transportation in Canada.
“We are bringing one of Canada’s most respected forwarding companies into C.H. Robinson,” said John Wiehoff, Chairman and Chief Executive Officer of C.H. Robinson. “This acquisition continues our global expansion and marks our third Global Forwarding acquisition in the past five years. We are extremely proud of the progress we have made in bringing these companies into C.H. Robinson, and Milgram provides another unique opportunity to strengthen our global forwarding and customs brokerage offerings in Canada. We look forward to working with Milgram’s customers to offer our full suite of logistics services to help improve their supply chains.”
Milgram is a provider of customs brokerage and freight forwarding, in addition to providing surface transportation and warehousing services, to 3,500 active customers. Headquartered in Montreal, Quebec, Milgram employs approximately 330 employees and has six offices in Canada and one office in the United States. Milgram is a gold standard winner of Canada’s Best Managed Companies®. For the fiscal year ending May 31, 2017, Milgram had approximately $155.3 million CAD (approximately $124 million USD) in gross revenues.
C.H. Robinson purchased Milgram & Company Ltd. for approximately $62 million CAD ($50 million USD) in cash. The acquisition is expected to be approximately neutral to earnings in 2017 and slightly accretive in 2018 and will be financed through cash and funds drawn from C.H. Robinson’s existing revolving credit facility.
“We are excited to build on our success providing supply chain expertise and execution, refining processes, and being an integral part of our customers’ businesses,” said Jay Goldman, President and Chief Executive Officer of Milgram & Company Ltd. “We now look forward to collaborating with C.H. Robinson to grow our presence and provide our customers with the opportunity to leverage C.H. Robinson’s worldwide network and world-class service offerings.”
“This acquisition strengthens our ability to continue to serve the world’s shippers and help them meet their global supply chain goals,” said Mike Short, President of C.H. Robinson’s Global Forwarding division. “Milgram has built a successful business doing things the right way, serving customers, and exceeding their expectations. We look forward to bringing their talented team to C.H. Robinson.”
C.H. Robinson will integrate Milgram into its Global Forwarding division and single global technology platform, Navisphere®.
Liz Erickson Monson
Publication date: 9/1/2017
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