The third party logistics provider (3PL) Yusen Logistics yesterday said it had acquired Taylor Services, which provides 3PL warehouse, distribution, and fulfillment center services, in a move to boost its automation solutions to provide e-commerce and direct-to-consumer processing services.
Terms of the deal were not disclosed, but Secaucus, New Jersey-based Yusen purchased Taylored from its private equity owner, Saybrook. Jim DeVeau, the prior president & CEO of Taylored Services, will be staying on in an advisory role to support a smooth transition and provide ongoing guidance to Yusen, the firms said.
Iselin, New Jersey-based Taylored will now become part of Yusen Logistics (Americas) Inc., the U.S. operating company of Yusen Logistics Co. Ltd. and a subsidiary of NYK Group, the Japan-based maritime container carrier line. The purchase agreement includes 11 distribution centers located near the ports of Los Angeles, Long Beach, New York/New Jersey, Savannah, and Miami, as well as in Louisville, KY, totaling approximately 2.9 million square feet. Both companies’ names and brands will remain in place.
The move will allow Yusen to grow from its current footprint of more than 631 distribution centers or offices in 350 cities in 47 countries.
"We are excited to welcome 350+ employees, who will be led by Matt Ennis, the new president and CEO of Taylored Services,” Mikhail Kholyavenko, CEO of Yusen Logistics Americas, said in a release. “Combining the strengths of Taylored fulfillment centers in U.S. port-centric gateway markets with Yusen Logistics' global and domestic capabilities in international freight forwarding, warehousing and transloading operations, and supply chain orchestration will allow us to provide a full suite of supply chain logistics solutions to our current and future customers."
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