UPS announced the acquisition of Menlo Worldwide Forwarding. This transaction will create one of the world's largest full-service forwarders. Joining the forwarding businesses of both companies increases global scope and scale, and will expand service offerings in the U.S. and international heavy freight segments.
Menlo sources say nothing will change with regard to their existing customer relationships. The sale includes Menlo Forwarding's global air and ocean network, its U.S. heavy air freight products and Expedited services, its expertise in Trade Services, its people, and its associated information technology.
Although the transaction is not complete, Menlo expects that it will close late in the fourth quarter, pending regulatory approval.
"These types of transactions take time to evolve even after they close," says David Benton, director, Corporate Communications for Menlo Worldwide . "We don't expect significant changes even after the deal closes. We expect a gradual transition with uninterrupted service."