Target Logistics Buys New York Freight Forwarder

July 13, 2006 3:00 PM, EDT

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reight forwarder Target Logistics said Thursday it has acquired Discovery Air Cargo, a freight forwarder that operates in the New York area.

Terms were not disclosed, though the acquisition is expected to add $7 million in annual revenues to Target, the company said.

“This transaction is a continuation of our acquisition strategy,” said Stuart Hettleman, Target’s chief executive officer.

Target began trading on the American Stock Exchange last month.

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