Schneider Logistics Inc., an international lead logistics provider and part of the Schneider National enterprise, has signed a stock purchase agreement to acquire American Overseas Air Freight,
an international freight forwarder and a licensed United States Customs Broker.
The company specializes in the handling and shipping of import and export products by air, ocean and truck. Upon completion of the acquisition, Schneider National will be the first truckload carrier to complete the cycle of international to inland delivery. Terms of the transaction are not being disclosed.
"The freight forwarding and customs brokerage expertise of American Overseas will complement Schneider's existing transportation and logistics services offerings as we continue to expand globally," said Tom Escott, president of Schneider Logistics. "This acquisition is another key component in our strategy to build a comprehensive door-to-door global logistics operation that spans air, ocean, rail and truck transportation."
Ron Barker, president of American Overseas will continue to lead the El Segundo, Calif.-based organization once the acquisition is finalized. Closing of the purchase agreement is expected to occur within the next 45 days.
According to Escott, the company will retain the American Overseas name and will conduct business as a wholly owned subsidiary of Schneider Logistics.