Prime had $108.7 million in total revenues for the fiscal year ended December 31, 2019. C.H. Robinson intends to purchase Prime for approximately $225 million in cash. The acquisition is expected to be slightly accretive in 2020 and will be financed through cash on hand and funds drawn from C.H. Robinson’s existing credit facilities.
“Prime Distribution Services is a high-quality growth company that brings scale and value-added warehouse capabilities to our retail consolidation platform, adding to our global suite of services,” said Bob Biesterfeld, C.H. Robinson Chief Executive Officer. “Prime has an outstanding track record of success, a talented and experienced team and a focus on delivering great value to its customers and carriers.”
Prime Distribution Services provides a comprehensive suite of retail consolidation solutions, including distribution, fulfillment and inventory management, and currently operates as a wholly-owned subsidiary of Roadrunner Transportation. Founded in 1990 and headquartered in Plainfield, Indiana, Prime employs approximately 270 people and has five fulfillment and distribution facilities totaling approximately 2.6 million square feet across the United States. Prime currently serves approximately 140 customers.
Read more at chrobinson.com