Kenco Buys The Shippers Group
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Chattanooga, Tenn.-based third-party logistics group Kenco is to buy The Shippers Group, a Dallas-based third-party warehousing company, it said.
The financial terms of the acquisition will not be disclosed.
Kenco ranks No. 57 on the Transport Topics Top 100 list of the largest logistics companies in North America. A year earlier, it ranked No. 61.
Kenco also ranks No. 6 on TT’s list of the top dry storage warehousing companies in North America, with 38.7 million square feet of space and 111 warehouses. The Shippers Group ranks No. 59 on the list with 3.9 million square feet across eight warehouses in Florida, Georgia and Texas.
TSG is excited to announce we are now a part of Kenco! Together, we’re able to achieve new levels of performance – providing our customers with additional capacity, an extensive network of warehouses, and a broad suite of fully integrated services: https://t.co/KjjuWIomsK pic.twitter.com/CIQxALdLqI — The Shippers Group (@shippersgroup) January 4, 2024
The deal is set to add to Kenco’s capacity, broaden the company’s geographic reach, and expand the suite of services available to customers, it said.
“Kenco and The Shippers Group have highly complementary capabilities and share a culture of excellence,” said Denis Reilly, Kenco CEO.
“Together, we bolster the combined suite of capabilities with increased scale and reach in key growth markets, enabling us to capitalize on market momentum, while continuing to deliver exceptional service to our customers. I have long admired The Shippers Group’s management team and look forward to working together in the next chapter of their growth,” he added.
Founded in 1901 as a regional warehousing company, The Shippers Group now offers warehousing, co-packaging, fulfillment and transportation management services. It is led by majority owner and CEO Graham Swank.
“We knew Shippers Group would be a fit from the start. We have had a long-standing relationship with their owners and key executives,” Kenco Chief Administration Officer Scott Mayfield said. “This strategic partnership signifies a milestone for Kenco and The Shippers Group, combining our strengths to deliver even greater value to our customers and further excel in the dynamic logistics landscape.”
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