Target Logistics Buys Air Cargo International

March 15, 2005 1:30 PM, EST

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arget Logistics Inc. said Tuesday it acquired Air Cargo International and Domestic Inc., a freight forwarder and third-party logistics company.

Although specific terms were not disclosed, Target said the deal would be “for cash and an earnout based on gross profit over five years.”

Last year Air Cargo, a private company, generated about $16 million in revenue, Target said in a statement. Target, a public company, generated about $135 million.

ir Cargo’s primary markets are in Dallas and the Newark, N.J., areas. Target said the acquisition is consistent with its strategy of buying companies in areas where it has existing operations.

Target provides domestic and international freight forwarding and logistics services through its subsidiary, Target Logistic Services Inc.