C.H. Robinson Expands Across Italy With Dema Service Buyout
C.H. Robinson Worldwide, Inc. CHRW has announced the acquisition of Dema Service S.p.A, an Italy-based logistics company, providing road transportation services across Europe.
The buyout is a notable move, strengthening the company’s presence in Italy, which is believed to be one of the largest road transportation markets in Europe. The combined entity will offer better service to customers.
Notably, C.H. Robinson will integrate the acquired company into its European Surface Transportation division and Navisphere, the single global technology platform.
C.H. Robinson Worldwide, Inc. Price
Earlier this year, the company bought Madrid, Spain-based freight forwarder — The Space Cargo Group — thereby expanding its base across Spain and Columbia. The consolidation is anticipated to be accretive to C.H. Robinson’s results in the current year. Notably, The Space Cargo Group products will be part of the company’s Global Forwarding unit. (Read more: C.H. Robinson Buys Space Cargo for $48M, Expands Portfolio).
Successive buyouts in such a short span highlight C.H. Robinson’s activeness on the acquisition front. Apart from the aforementioned acquisitions, the company purchased Milgram & Company in 2018 and APC Logistics in 2016.
Zacks Rank & Key Picks
C.H. Robinson carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are SkyWest, Inc. SKYW, Hertz Global Holdings, Inc HTZ and GATX Corporation GATX. While SkyWest sports a Zacks Rank #1 (Strong Buy), GATX and Hertz Global carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of SkyWest, Hertz Global and GATX have gained more than 33%, 14% and 3%, respectively, so far this year.
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