PSA International to acquire US logistics firm
Global port group PSA International has signed an agreement to acquire privately-held logistics firm BDP International from New York-based Greenbriar Equity Group.
Under the agreement, PSA intends to acquire 100% of the Philadephia-headquartered company. The transaction is subject to formal approvals by the relevant authorities and other customary closing conditions.
With this investment, PSA expects to benefit from BDP’s global end-to-end chain supply services.
Tan Chong Meng, Group CEO of PSA International, said that the acquisition will be PSA’s first major acquisition of this nature – a global integrated supply chain and transportation solutions provider with end-to-end logistics capabilities.
On the other hand, BDP can leverage PSA’s network of worldwide terminals as well as affiliated businesses to continue its growth plans.
“With the extensive capabilities of PSA and their significant market presence worldwide, we will undertake a new chapter of growth with incredible opportunities to optimise global supply chain activities for our customers”, added Mike Andaloro, CEO and president of BDP International.
BDP manages the end-to-end movement of shipments covering a range of industries and segments such as chemicals, industrial, healthcare, consumer and retail customers.
“For shippers and importers who are confronted with a volatile market and increasingly complex global logistics requirements, this will create opportunities for customised and sustainable solutions that will help them optimise the international supply chain process”, the companies said in the joint statement.
Earlier this year, PSA Felbermayr Holding secured the European Commission’s approval for the acquisition of joint control over Belgium-based PSA Breakbulk NV and Coil Terminal NV.