Target Logistics and its subsidiary, Target Logistic Services, have acquired Air America Freight Service, a third party logistics company that provides a freight-forwarding services in metropolitan Atlanta. Terms of the acquisition were not disclosed.
This is the second freight-forwarder acquisition by Baltimore-based Target Logistics in fiscal 2002, as the company recently acquired SDS Logistics, a Newark, NJ-based forwarder. Target Logistics expects these acquisitions to add approximately $5 million in revenue and $500,000 to net profit on an annual basis.
"We believe that these acquisitions will allow us to strengthen our existing operations, take advantage of savings through the elimination of duplicative costs and improve our gross profit percentage through increased volume," said CEO Stuart Herrleman.