CH Robinson Sticks to Its Bolt-on Strategy in Italy as China Freight Wanes

China 2820 Consumer Staples 707 Corp - Forwarders 310 Industrials - Capital Goods 545 Italy 59 Mergers 220 U.S. 5046

CH Robinson’s acquisition of Italian trucking firm Dema will help the freight forwarder diversify its revenues and offer a more integrated Europe-to-Global logistics service. Both are needed given CH Robinson’s exposure to the slowing China-to-U.S. business. The latter represented 63.6% of CH Robinson’s U.S. seaborne inbound shipments in the 12 months to Apr. 30, and had already dropped 13.9% year over year in April. The largest CH Robinson customer in Italy-to-U.S. seaborne shipping – which may benefit from the wider service offering – was Bacardi, with 680 TEUs shipped in the past 12 m...

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