Express-1 Expedited Solutions on Monday, Oct. 5, announced that it has completed the acquisition of LRG International Inc., an international forwarding company that specializes in ocean and air freight services. Express-1 says the acquisition, terms of which were not released, will expand the international scope of the XPO business mix immediately, and that LRG will be rolled into its Concert Group Logistics (CGL) operations.
“We are very excited about the acquisition of a company with the reputation of LRG,” says Michael Welch, chief executive officer of Express-1, based in St. Joseph, Mich. “This acquisition is evidence that we are committed to advancing the size and capabilities of our CGL logistics network. LRG is a nonasset-based international freight forwarder, which will offer XPO strong growth.”
“This is an important acquisition for us,” says Gerry Post, president of CGL. “Adding LRG and its highly experienced team to CGL brings new strength to our customers who ship internationally. It enhances our service offering, expands our foreign network and strengthens our ocean and air capabilities, enabling us to move upon the global frontier with strong resources and capabilities.”
CGL says the addition of LRG to its network will assist the company in developing a logistics platform that allows for expansion into Europe, Asia and other major geographic regions throughout the world; together, CGL and LRG will combine their expertise to penetrate new markets and offer faster, safer and reliable logistics services to new and existing customers.
“Becoming part of a recognized industry leader like XPO is a special opportunity for LRG, its customers and business partners worldwide,” says Henrik Jorgensen, president of LRG. “Our knowledge and experience in handling and shipping both imports and exports will be a strong asset to XPO’s global logistics and transportation portfolio. We are extremely excited to partner with such a dynamic organization that places a high priority on employee and customer satisfaction.”