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C.H. Robinson (CHRW) Buys Combinex to Boost European Presence
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In a bid to strengthen its European Surface Transportation business, C.H. Robinson (CHRW - Free Report) announced that it has acquired Combinex Holding B.V. Notably, Combinex is one of the fastest growing forwarders in the Benelux region and specializes in transport services for dry, fresh and frozen goods. Notably, Benelux includes three neighboring states in Western Europe, namely Belgium, the Netherlands, Luxembourg.
Per Jeroen Eijsink, president of C.H. Robinson’s European operations, “The acquisition is a great opportunity for C.H. Robinson and will strengthen our existing footprint in Europe, particularly our presence in Western Europe”. Eijsinkalso justified the acquisition by stating that “Combinex will also offer us additional haul capabilities with a dedicated fleet, expanding our reach in the short-medium haul market”.
Notably, C.H. Robinson’s European road transportation operations cover all the major trade avenues in Europe. The acquisition is a prudent move to expand its European road transportation operations as it not only will broaden its customer base but should also improve customer services by clubbing Combinex’s expertise.
The buyout further highlights C.H. Robinson’s efforts to fortify its European presence as it follows the consolidations of two other European companies, namely Dema Services and Space Cargo in 2019.
Shares of ArcBest, Covenant and Herc Holdings have appreciated 81.4%, 22.2% and 101.7%, respectively, year to date.
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C.H. Robinson (CHRW) Buys Combinex to Boost European Presence
In a bid to strengthen its European Surface Transportation business, C.H. Robinson (CHRW - Free Report) announced that it has acquired Combinex Holding B.V. Notably, Combinex is one of the fastest growing forwarders in the Benelux region and specializes in transport services for dry, fresh and frozen goods. Notably, Benelux includes three neighboring states in Western Europe, namely Belgium, the Netherlands, Luxembourg.
Per Jeroen Eijsink, president of C.H. Robinson’s European operations, “The acquisition is a great opportunity for C.H. Robinson and will strengthen our existing footprint in Europe, particularly our presence in Western Europe”. Eijsinkalso justified the acquisition by stating that “Combinex will also offer us additional haul capabilities with a dedicated fleet, expanding our reach in the short-medium haul market”.
Notably, C.H. Robinson’s European road transportation operations cover all the major trade avenues in Europe. The acquisition is a prudent move to expand its European road transportation operations as it not only will broaden its customer base but should also improve customer services by clubbing Combinex’s expertise.
The buyout further highlights C.H. Robinson’s efforts to fortify its European presence as it follows the consolidations of two other European companies, namely Dema Services and Space Cargo in 2019.
Zacks Rank & Other Key Picks
C.H. Robinson carries a Zacks Rank #2 (Buy), currently. Investors interestedin the broader Transportation sector may also consider ArcBest Corporation (ARCB - Free Report) , Covenant Logistics (CVLG - Free Report) and Herc Holdings (HRI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ArcBest, Covenant and Herc Holdings have appreciated 81.4%, 22.2% and 101.7%, respectively, year to date.
Zacks' Top Picks to Cash in on Artificial Intelligence
In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.
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