UPS to buy Italy’s Bomi Group as it eyes cold-chain expansion
(Reuters) -United Parcel Service Inc mentioned on Monday it might purchase Italy-based healthcare-logistics agency Bomi Group to bolster its presence within the temperature-critical drugs deliveries sector.
Atlanta-based UPS didn’t disclose monetary particulars of the transaction, however the Wall Road Journal, which first reported the information on Sunday, mentioned it was for a number of hundred million {dollars}.(https://on.wsj.com/3BOoINA)
JPMorgan acted as the only adviser for UPS.
The deal is predicted to assist the world’s largest bundle supply agency add greater than 350 temperature-controlled services, or warehouses used to retailer temperature-sensitive pharmaceutical merchandise throughout 14 nations.
Based in 1985, Bomi Group helps healthcare suppliers with warehousing and temperature-controlled provide chain logistics for delicate pharmaceutical merchandise throughout Europe and South America.
Bomi’s chief govt officer, Marco Ruini, will proceed to go the Italian agency after the deal, UPS mentioned, including that Bomi’s staff would proceed within the mixed group.
(Reporting by Jahnavi Nidumolu and Kanjyik Ghosh in Bengaluru; Extra reporting by Elvira Pollina; Enhancing by Muralikumar Anantharaman, Rashmi Aich and Neha Arora)
