American Fast Freight Inc., an ocean freight forwarder specializing in less-than-containerload shipments, has acquired Grand Worldwide Logistics.
Terms were not disclosed.
Chicago-based Grand Worldwide is a warehouse and third-party logistics company serving the beverage and spirits, food and paper industries, among others.
American Fast Freight has headquarters in Fife, Wash.
The purchase “expands AFF’s global logistics platform by adding blue-chip customers, a talented management team, more than 2 million square feet of warehouse space and over 150 rail spots,” AFF said in a statement.
“We are extremely excited to have GWW as part of the AFF family of companies,” said American Fast Freight President Kevin Kelly, noting that the addition complements his company’s global logistics platform.
Kelly said that last year’s acquisition of Global Transportation Services expanded services beyond American Fast Freight’s markets of Alaska, Hawaii, Guam and Puerto Rico. Its primary business is the Pacific Northwest gateway, but it now delivers shipments moving inbound from Asia to the Midwest and East Coast.
In 2015, American Fast Freight expanded into the Caribbean market with the addition of Caribbean Shipping Services, Kelly added.
American Fast Freight is owned by The Resolute Fund II, a private equity fund managed by The Jordan Co., and American Fast Freight’s management team.
Grand Worldwide President Dave Schulman will continue to play an advisory role after the transition.