CHAMPLAIN - World Warehouse and Distribution is under new ownership.
NFI, a privately owned nationwide integrated supply chain solutions provider, has acquired the third-party logistics and warehouse company headquartered in Champlain. The acquisition marks the 10th of its kind by NFI in the last 10 years.
The deal will result in World Warehouse remaining "a separate entity under the umbrella of NFI's Warehousing and Distribution division," according to a press release from NFI, based in Cherry Hill, N.J. The acquisition will also add nearly one million additional square feet to the warehouse and distribution space managed by NFI, bringing the total warehouse space owned or managed by NFI to more than 19 million square feet.
NFI chief executive officer Sidney R. Brown, in a prepared statement, said acquiring World Warehouse is part of the company's strategic plan "to increase our footprint in Canada."
"This transaction continues to build upon our previous acquisition of IPD Global - now NFI Canada - expanding our services cross border and within Canada," Brown said. "By the end of 2011, NFI will operate over 1 million square feet of distribution space in four cities in Canada and manage close to $75 million in transport-related revenues."
"This acquisition expands NFI's network of third party logistics and warehouse services, and further enhances our cross border capacity and capabilities," Brown continued. "In turn, NFI provides the World Warehouse customer base with access to a vast network of integrated logistics services and supply chain solutions."
"NFI's reputation for excellent customer service, strong management and years of proven success promise a seamless transition for everyone," World Warehouse president Kevin O'Shea also stated in the release. "We look forward to being integrated into this powerhouse company, and the ability to better service existing customers and grow our base."
There is no anticipated effect on the approximately 150 employees at the Champlain, Albany and Laval, Quebec facilities as a result of acquisition, stated O'Shea, who is expected to retain his role as president of World Warehouse.
"I expect we will add to those numbers as we do plan on growing," O'Shea stated when reached for comment.
According to its Web site, NFI provides transportation, logistics, warehousing, distribution, commercial real estate and development services and maintains 5,600 employees in the U.S. and Canada, more than 2,000 tractors, and more than 6,700 dry trailers and 500 refrigerated trailers. In 2010, NFI grossed approximately $900 million revenue.