Freight News:
Forwarder Yusen Logistics acquires New Jersey-based 3PL Taylored Services
Freight forwarder Yusen Logistics announced Wednesday it has acquired 3PL fulfillment provider Taylored Services.
New Jersey-based Taylored provides warehousing, transportation and multichannel fulfillment services. The company’s distribution centers are near major ports like Los Angeles and Long Beach, California; New York-New Jersey; and Savannah, Georgia. It also provides drayage and transloading services.
The addition of Taylored’s more than 350 employees and 11 distribution centers with 2.9 million square feet of space will expand Yusen’s contract logistics footprint in the U.S. Yusen Logistics also expects to leverage Taylored’s automation stack to improve e-commerce fulfillment times.
Taylored Services was acquired by private equity firm Saybrook in 2012.
Financial terms of the transaction were not provided.
“Combining the strengths of Taylored fulfillment centers in U.S. port-centric gateway markets with Yusen Logistics’ global and domestic capabilities in international freight forwarding, warehousing and transloading operations, and supply chain orchestration will allow us to provide a full suite of supply chain logistics solutions to our current and future customers,” said Mikhail Kholyavenko, CEO of Yusen Logistics Americas.
Taylored will continue to operate under its current banner as part of Yusen Logistics Americas, a subsidiary of NYK Group. Taylored’s president and CEO, Jim DeVeau, will take on an advisory role during the transition.
“Taylored employees and customers will benefit from access to Yusen’s extensive global network and supply chain solutions including international air and ocean freight forwarding and 4PL/Lead Logistics capabilities,” DeVeau stated.
Japanese air and ocean forwarder Yusen Logistics provides warehousing, distribution and supply chain services through a network with more than 24,000 employees and over 630 offices in 47 countries. The company has 1,900 employees in the U.S., operating more than 5 million square feet of warehouse space.
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Source: freightwaves - Forwarder Yusen Logistics acquires New Jersey-based 3PL Taylored Services
Editor: Todd Maiden