C.H. Robinson Worldwide Inc. announced today that it is acquiring substantially all of the operating assets and certain liabilities of Frank M. Viet GmbH Internationale Spedition through a newly formed German subsidiary.
Viet is a non-asset based international freight forwarding and third-party logistics company based in Hamburg, Germany. It provides air and ocean international freight forwarding and European truck transportation services to approximately 400 customers in a variety of industries.
Viet had annual gross revenues of approximately US $5.6 million in 2002. The acquisition is expected to close today, and terms of the acquisition were not disclosed.
Frank Viet, currently managing director, will remain with the company after the acquisition as the manager of the Hamburg office of C.H. Robinson's German subsidiary.
