Heritage Partners to Acquire Package Services Division of R.R. Donnelley Logistics
August 04 2004 - 1:04PM
PR Newswire (US)
Heritage Partners to Acquire Package Services Division of R.R.
Donnelley Logistics Acquisition will create full-service
business-to-consumer delivery and supply chain solutions provider
BOSTON, Aug. 4 /PRNewswire/ -- Heritage Partners, Inc., a leading
private investment firm, today announced that it has reached an
agreement to acquire the package logistics business of R.R.
Donnelley Logistics, a unit of R.R. Donnelley & Sons Company
(NYSE:RRD). Heritage intends to combine this business with American
Package Express (APX Logistics, Inc., http://www.shipapx.com/), a
leading provider of business-to-home parcel delivery solutions. The
agreement is subject to regulatory approval and is expected to
close by the end of the third quarter, 2004. R.R. Donnelley will
retain its print logistics, fulfillment and distribution
businesses, and will continue to provide third-party logistics
management services. By joining the operational capabilities and
market strengths of the two businesses, APX will create a fully
integrated, nationwide delivery network that will service catalog
businesses, e-retailers, direct marketing companies, publishers and
a variety of parcel shippers. Combined services include delivery
for business-to-consumer and retail parcels, books and flats
weighing over 20 ounces, as well as reverse logistics (returns
management). "With this acquisition we will bring APX's leadership
as the largest parcel work-share partner with the United States
Postal Service together with the customer volume and scale of R.R.
Donnelley Logistics' package business. This union will strengthen
our ability to better serve our customers to meet and exceed their
expectations," said Brad Garberich, President and CEO of APX. Mike
Gilligan, Managing Partner of Heritage Partners, said, "The
complementary nature of the two organizations will result in
immediate benefits to our customers as the merger of these two
organizations will provide full-service, end-to-end delivery and
returns solutions to shippers in one seamless entity. We are also
pleased that the new, larger enterprise will allow further
enhancement of the relationship with a valued partner, the United
States Postal Service." Shippers have been under growing pressure
from increasingly savvy consumers to reduce shipping costs while
ensuring reliable, quality delivery with transparent tracking
capability and complete pipeline visibility. APX and RR Donnelley
Logistics have been industry leaders in developing systems to
provide expedited delivery at the lowest possible cost with full
custodial control, as well as for advanced tracking and customer
information management. Heritage Partners, Inc., with $1.4 billion
in capital under management, is the leading private investment firm
specializing in the acquisition and equity-based re-capitalization
of private, family owned businesses. Since 1987, the Partners have
assembled a diversified portfolio of forty-eight investments with
aggregate revenues approaching $3.5 billion. The largest parcel
work-share partner of the United States Postal Service (USPS),
American Package Express collects, processes, sorts, tracks and
expedites the delivery of business-to-consumer and retail parcels,
books and bound printed matter, flats and other classes of mail,
and provides complete reverse logistics (returns management).
Through its leading parcel work-share partnership, APX maximizes
the unique strength of the US Postal Service in providing reliable,
low-cost residential delivery six days a week, while allowing
complete custodial control and a suite of tracking and data
management systems. APX Logistics, Inc. is headquartered at 9939
Norwalk Boulevard, Santa Fe Springs, CA 90670. For more information
please call (562) 906-6300 or go to http://www.shipapx.com/ This
press releases was distributed by eMediawire
(http://www.prwebdirect.com/), a PR Web service. DATASOURCE: APX
Logistics, Inc. CONTACT: APX Logistics, Inc., +1-562-906-6300 Web
site: http://www.shipapx.com/
Copyright
Donnelley (R.R.) & Sons Co. (NYSE:RRD.WI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Donnelley (R.R.) & Sons Co. (NYSE:RRD.WI)
Historical Stock Chart
From Sep 2023 to Sep 2024