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August 1, 2014 11:50 AM, EDT
French Company to Buy Logistics Operator Jacobson
France’s Norbert Dentressangle, an international logistics operator, said it has agreed to buy Iowa-based Jacobson Cos. for $750 million to expand in the U.S. market.

Contract logistics-operator Jacobson, based in Des Moines, ranks No. 24 on Transport Topics Top 50 Logistics companies. It is owned by private equity firm Oak Hill Capital Partners. After the transaction, Norbert said its annual revenue would be approximately $6.8 billion.

CEO Hervé Montjotin described the move in a statement as a “key milestone in Norbert Dentressangle’s development strategy to become a top-tier player in global supply chain management and a step change in expanding our global reach.”

The French company said it will pay for the acquisition, which is subject to regulatory approval. The purchase will be financed by cash reserves and its credit line, the company said.

Upon completion, the United States is expected to represent about 14% of Norbert’s revenue, the statement said.