(RTTNews) - United Parcel Service, Inc. (UPS) announced on Tuesday that it has agreed to acquire German healthcare logistics provider Frigo-Trans and its sister company BPL.
The financial terms of the transaction, to be closed in the first quarter of 2025, were not disclosed.
The acquisition will enhance UPS's end-to-end capabilities throughout Europe for UPS Healthcare customers who increasingly require temperature-sensitive and time-critical logistics.
Kate Gutmann, UPS' Executive Vice President, said: "The fast-paced innovation in the pharmaceutical industry is creating the need to have more integrated cold and frozen supply chains. Frigo-Trans will help deepen our portfolio of solutions for our customers and accelerate our journey."
Frigo-Trans' network includes temperature-controlled warehousing that covers six temperature zones from cryopreservation minus 196°C to ambient plus 15° to 25°C.
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