World Warehouse will remain a separate entity under the umbrella of NFIâ€™s Warehousing and Distribution division. The acquisition of World Warehouse will add nearly one million additional square feet to the warehouse and distribution space managed by NFI, bringing the total warehouse space owned or managed by NFI to over 19 million square feet.
World Warehouse provides a wide array of transportation and logistics solutions for a variety of industries, including pharmaceuticals, perishable and non-perishable manufacturers and distributors, beverage manufacturers and sporting goods retailers.
Kevin Oâ€™Shea, president of World Warehouse, said: â€œNFIâ€™s reputation for excellent customer service, strong management and years of proven success promise a seamless transition for everyone. We look forward to being integrated into this powerhouse company, and the ability to better service existing customers and grow our base.â€
Sidney Brown, CEO of NFI, said: â€œAcquiring World Warehouse is part of our strategic plan to increase our footprint in Canada. This transaction continues to build upon our previous acquisition of IPD Global â€“ now NFI Canada â€“ expanding our services cross border and within Canada. By the end of 2011, NFI will operate over 1 million square feet of distribution space in four cities in Canada and manage close to $75m in transport-related revenues.
â€œThis acquisition expands NFIâ€™s network of third party logistics and warehouse services, and further enhances our cross border capacity and capabilities. In turn, NFI provides the World Warehouse customer base with access to a vast network of integrated logistics services and supply chain solutions.â€
Will the acquisition benefit the firms?
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