UPS has locked a $150 million cash purchase of Menlo Worldwide Forwarding, Inc., a subsidiary of CNF Inc. MWF is a global freight forwarder that provides heavy air freight forwarding services, ocean services and international trade management.
Through the deal, the parcel delivery giant also assumes the company’s $110-million of long-term debt.
Through the acquisition, UPS will expand its global capabilities and add guaranteed heavy freight services around the world. UPS plans to introduce new time-definite products such as overnight, two-day and deferred heavy air freight in North America.
“Menlo Worldwide Forwarding is a well-established global air freight forwarder, with international trade capabilities, all of which complement UPS’s existing operations,” said Bob Stoffel, UPS senior vp, Supply Chain Group.