TopNews

C.H. Robinson Purchasing Freightquote.com for $365 Million

December 1, 2014

SHARING TOOLS        | Print Subscribe
Photo: C.H. Robinson Worldwide Facebook page.
Photo: C.H. Robinson Worldwide Facebook page.

The third-party logistics provider C.H. Robinson Worldwide Inc. has reached an agreement to acquire Freightquote.com Inc. for $365 million in cash.

Founded in 1999, Freightquote is a privately-held freight broker providing services throughout North America, It is headquartered in Kansas City, Missouri, with approximately 1,000 employees,

Freightquote provides truckload, less-than-truckload and intermodal services to approximately 80,000 customers, according to a release from C.H. Robinson. Its 2014 gross revenues are expected to be approximately $623 million, net revenues are projected to be approximately $124 million and adjusted earning are estimated to be approximately $34 million.

The agreement is subject to certain customary closing conditions, including regulatory approval. Closing of the acquisition is expected to occur in the first quarter of 2015.

“Freightquote is a high quality, innovative, growth company that brings a proven model serving smaller businesses. Its proprietary e-commerce technology allows shippers to easily access competitive rates and automated load acceptance and payment functionality. E-commerce is going to be a bigger part of future supply chain services and Freightquote brings us a leading solution in our industry,” said John Wiehoff, C.H. Robinson chairman and chief executive officer. “Freightquote brings synergies to our less-than-truckload and truckload businesses as well as a talented technology team with expertise developing a great e-commerce store front experience.”

Tim Barton, executive chairman of Freightquote, will serve as a consultant to Freightquote following the closing of the acquisition.  

 

Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.

GotQuestions?
sponsored by
sponsor logo

ELDs and Telematics

Scott Sutarik from Geotab will answer your questions and challenges

View All
GotQuestions?

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All