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Schneider announces pending American Overseas Air Freight acquisition
Acquisition marks company’s second within six monthsSchneider Logistics, Inc. announced that it has signed a stock purchase agreement to acquire American Overseas Air Freight, an international freight forwarder and a licensed United States Customs Broker. The company specializes in the handling and shipping import and export products by air, ocean and truck. Upon completion of the acquisition, Schneider National will be the first truckload carrier to complete the cycle of international to inland delivery. Terms of the transaction are not being disclosed.
“The freight forwarding and customs brokerage expertise of American Overseas will complement Schneider’s existing transportation and logistics services offerings as we continue to expand globally,” said Tom Escott, president, Schneider Logistics. “This acquisition is another key component in our strategy to build a comprehensive door-to-door global logistics operation that spans air, ocean, rail and truck transportation.”
Ron Barker, president of American Overseas will continue to lead the El Segundo, CA-based organization once the acquisition is finalized. Closing of the purchase agreement is expected to occur within the next 45 days.
“Becoming part of a recognized industry leader like Schneider National is a special opportunity for American Overseas and its customers and business partners worldwide,” said Barker, “Our knowledge and experience in handling and shipping both imports and exports will be a strong asset to Schneider’s global logistics and transportation portfolio.”
According to Escott, the company will retain the American Overseas name and will conduct business as a wholly owned subsidiary of Schneider Logistics.
American Overseas has operations in four locations in California: El Segundo, Carson, San Diego and San Francisco. The company is a member of the Hi-Tech Freight Forwarder Network, a worldwide network of independent forwarding agents that provides a high level of flexibility, service and local expertise to a wide range of multinational clients.
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