Supply chain provider Echo Global Logistics Inc. said today it has acquired Plum Logistics LLC, a Wakefield, Mass.-based truckload brokerage firm specializing in temperature-controlled services.
The transaction, terms of which were not disclosed, gives Chicago-based Echo a foothold in the Northeast United States and expands its presence in the temperature-controlled transport sector. Additionally Plum Logistics' core business of truckload brokerage aligns with a major part of Echo's existing business.
Under the transaction, Sam Freni, Plum Logistics' founder, will continue with Echo as the company's regional vice president. Freni founded Plum Logistics in July 2008 after running transportation for a produce brokerage firm. Effective immediately, Plum Logistics will take the name of its new owner, Echo said.
Plum Logistics had about $17 million in gross revenues in the past 12 months.