NFI has acquired a logistics provider that has served one of the country’s busiest ports for more than 70 years.
The Cherry Hill-based supply chain solutions provider has acquired California Cartage and its affiliated companies, expanding its port drayage, transloading, deconsolidation, customs examination and warehousing solutions.
CalCartage has its roots in Long Beach, California, where many leading retailers, manufacturers and steamship lines have relied on its port and distribution services at the Port of Long Beach and elsewhere.
The acquisition creates the largest family-owned, vertically integrated third-party logistics firm in North America, with Top 10 service offerings in dedicated transportation, distribution and drayage.
The combined company is expected to generate approximately $2 billion in annual revenue next year. With a significant presence at nearly every major U.S. port, the acquisition enables NFI to service shippers in the seamless transition of goods from import to port to final destination in North America.
“I am excited to welcome CalCartage’s employees and customers to our NFI family,” said NFI CEO Sid Brown. “Together, we will expand our capabilities, better connect our domestic and international platforms, and create true end-to-end solutions. With our employees’ collective expertise and shared commitment to exceptional customer service, NFI becomes a supply chain powerhouse that can deliver value at a new level to our blue-chip customer base.”
CalCartage owner and Chairman Bob Curry Sr. said the two are a perfect fit.
“(That) is why we sought them out since the beginning,” he said. “Our people have built up this company over its long history, and NFI is an ideal organization to grow with and provide more opportunities for our employees, independent contractor partners, and customers.”
The acquisition expands NFI’s North American distribution footprint to 41.5 million square feet, a portfolio that consists of warehousing, e-commerce, automated, cross-dock, transloading and customs examination facilities.
Its transportation and drayage network will now be nearly 4,000 tractors and its brokerage and transportation management capacity will have almost 30,000 carrier partners.
NFI now employs nearly 10,000 associates throughout its more than 250 offices, warehouses and transportation locations.
