Japan-based logistics firm Nippon Express has completed the acquisition of US-based headquartered MD Logistics in a deal worth $51m (¥ 5.5bn).
Nippon Express said the acquisition is part of its plan (commencing 2019) to make the “pharmaceutical industry a priority industry in our business plan and corporate strategy”.
MD Logistics, headquartered in Indiana, US, is an established logistics provider for the pharmaceutical industry in the US. It was established in 1996 and has approximately 207 employees.
Nippon Express explained in a statement: "With the acquisition, we will gain access to the pharmaceutical distribution network in the US, which is the world's largest pharmaceutical market.
"By connecting MD Logistics with our international transportation network, we can benefit from an integrated and consistent logistics quality control across the entire US and globally."
The company added: "Furthermore, not only will the acquisition of MD Logistics provide us the ability to offer pharmaceutical logistics function but also furthermore our ability to expand our sales channel as we integrate different customer bases. In the future, we aim to maximize the synergies of the joint operation to provide higher quality services to customers worldwide."
