Owens & Minor completes acquisition of the Movianto Group, a leading European healthcare 3PL
Acquisition adds 23 logistics centers in 11 European countries.
in the NewsThe State of the DC Voice Market DHL launches Global Trade Barometer Get the lay of the land with Modex 2018 show map Breaking Through On Yard Visibility AGVs: Predictably Flexible More News
Owens & Minor, Inc., announced that effective August 31, 2012 it has completed the previously announced acquisition of the majority of the Movianto Group, a leading European healthcare third-party logistics (3PL) business, from Celesio AG, for approximately $164 million. The acquisition, which was funded by available cash, is expected to be dilutive to earnings per share in 2012, neutral in 2013 and accretive thereafter.
Movianto serves pharmaceutical and medical device manufacturer customers globally from 23 logistics centers in 11 European countries with approximately 1,800 teammates, providing warehousing, transportation, and cold chain logistics, as well as value-added services such as order-to-cash, repackaging and relabeling of products. Movianto’s operational capabilities and services are highly complementary to those of OM HealthCare Logistics, Owens & Minor’s domestic healthcare 3PL service, and the combination will enable Owens & Minor to offer healthcare manufacturers in the U.S. and Europe expanded global reach.
“Movianto provides Owens & Minor with a premier European healthcare logistics service and also gives us a global platform from which to serve our healthcare manufacturer customers,” said Craig R. Smith, president & chief executive officer. “This acquisition immediately increases our scope and scale in the third party logistics arena. Our manufacturer partners are asking for our assistance on a global basis, and now, with Movianto, we can offer them a comprehensive 3PL solution. We look forward to welcoming the Movianto team to the Owens & Minor family.”
Subscribe to Modern Materials Handling Magazine!Subscribe today. It's FREE!
Find out what the world’s most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!
The Big Picture: Navigation Gets a Reboot for Automatic Vehicles Top 20 3PL Warehouses 2017: Growth amid change View More From this Issue