In order to focus on its security business, Brink's Co. has sold off its BAX Global division to Deutsche Bahn AC, Germany's national railroad. The acquisition of BAX Global, a $2.4 billion logistics company headquartered in Irvine, Calif., strengthens Deutsche Bahn's presence in the United States.
BAX Global moves heavy cargo worldwide via a global network of nearly 500 offices in 133 countries. The purchase price is reportedly about $1.1 billion. "The sale of BAX Global represents an exciting opportunity for the BAX team to join with an industry leader that is committed to being a major long-term player in the field of freight transportation and logistics," says Michael Dan, chairman, president and chief executive officer of The Brink's Co.