Penske Logistics is buying third party logistics (3PL) firm Transfreight North America – owned by Japan’s from Mitsui & Co., Ltd. – for an undisclosed sum.
Transfreight currently operates from 27 locations across the Midwest, Canada and Mexico with its headquarters in Erlanger, KY, and Canadian operations centered in Kitchener, Ontario.
Marc Althen, president of Penske Logistics, said the Transfreight acquisition provides Penske with “a very complementary mix of business and services.”
Both companies added that they believe the deal should be finalized within 30 to 45 days.
