CJ Logistics buys American company with eye on marketCJ Logistics said Monday it completed the acquisition of a U.S. company last week in its latest drive to expand its presence in the North American market.
The Korean firm signed the deal to purchase a 90 percent stake in DSC Logistics in June for 231.4 billion won ($207.6 million).
Founded in Illinois in 1960, the company specializes in delivering packaged consumer goods and food products through its over 50 logistics centers throughout the United States. It had sales of 578.4 billion won last year, according to CJ Logistics.
The logistics arm of South Korea’s food and entertainment conglomerate CJ has been accelerating its overseas expansion since 2013, carrying out active mergers and acquisitions in China and Southeast Asia, including Malaysia, Indonesia and Vietnam.
The latest deal marks its first acquisition in the Americas. CJ Logistics operates 15 logistics centers in the United States, Canada, Mexico and Brazil.