Here are four things to know.
1. Ridgemont purchased Dallas-based Worldwide Express from the private-equity group Quad-C Management in a deal valued between $680 million to $720 million, according to the report.
2. The Charlotte, N.C.-based private equity firm plans to merge Worldwide Express with Salt Lake City-based Unishippers Global Logistics, which it acquired in 2015.
3. The newly formed firm, Worldwide Express Global Logistics, will rank among the top 30 third-party logistics providers in the U.S. and is expected to create more than $1 billion in annual sales, reports WSJ.
4. The deal is expected to close in the first quarter of 2017.
More articles on supply chain:
Supply chain tip of the week: How to manage excessive drug price hikes
Drug shortage spurs FDA to allow use of topical gel approved in Europe
Novartis to consider more US investments amid Trump tax cuts
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
