Roadrunner Announces Agreement to Sell its Prime Distribution Services Business to C.H. Robinson
ROADRUNNER TRANS SYS INC (RRTS)
Last roadrunner trans sys inc earnings: 3/26 04:15 pm
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Source: Business Wire
DOWNERS GROVE, Ill.--(BUSINESS WIRE)--Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “company”) (NYSE: RRTS), a leading asset-right transportation and asset-light logistics service provider, today announced it has signed a definitive agreement for the sale of its Prime Distribution Services business to C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW) for $225 million in cash, subject to customary purchase price adjustments. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close by the end of the first quarter.Prime Distribution Services, headquartered in Plainfield, Indiana, provides a comprehensive suite of retail consolidation solutions, with five food grade warehouse facilities strategically located across the nation and a team of retail supply chain experts dedicated to helping clients achieve compliance with large U.S. retailer delivery and in-stock requirements. The business had revenue of $108.7 million
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