USF Logistics Services, a wholly owned subsidiary of USF Corp., announced it had sold its reverse logistics operation USF Processors Inc. to Carolina Logistics Services Inc. (CLS). The announcement was made on March 2nd, five days after the deal and two days after USF officially announced it would be acquired by Yellow-Roadway Corp.
“The sale of USF Processors is the result of an analysis of the market verticals we presently service and where we could provide our customers with the greatest value,” said Thomas A. Lilly, president of USF Logistics.
CLS issued an announcement about the acquisition on Feb. 28th, the same day Yellow-Roadway announced its pending acquisition of USF. The sale of the USF unit was not disclosed in the Yellow-Roadway conference call with analysts or media.
"This is an exceptional acquisition for CLS in many ways," stated Mark Doughton, President of CLS.
Current clients of USF Processors will continue to receive support from their Dallas customer support organization for the foreseeable future, according to Doughton. "USF Processors was an early leader in our industry and we are excited about the opportunity to gain valuable expertise and knowledge from their people and scale from their infrastructure as we incorporate their fourteen U.S. and Canadian facilities," added Doughton.
CLS also announced the acquisition of Med-Turn, a reverse logistics operation for dispensing pharmacies.
CLS has been providing third-party reverse logistics services since 1985.
For more information about the Yellow-Roadway acquisition of USF, click: