Exel is acquiring Power Logistics and Power Europe, two divisions of Power Packaging Inc, a privately held provider of logistics and packaging services. The acquisition is subject to regulatory approval.
Exel will be acquiring the Power Logistics operations in the United States and United Kingdom, which provide supply chain management and packaging services to manufacturers and retailers of consumer products. In addition, Exel has entered into an agreement to purchase Power Packaging pending the achievement of certain financial objectives during the next two years. In the meantime, Exel will partner with Power Packaging to sell, develop, and operate bundled logistics and manufacturing/packaging solutions.
The acquisition enhances Exel's end-to-end logistics capabilities and provides a stronger and deeper footprint within the consumer and retail markets in both the United States and Europe.
Exel, Power Logistics, and Power Europe share some customers and geography in major US markets and Europe. The current management teams will play a major role in the combined operations.
