C.H. Robinson Completes Acquisition of APC Logistics

C.H. Robinson today announced that it has finalized the acquisition of APC Logistics, a leading provider of freight forwarding and customs brokerage services to over 3,000 customers and suppliers in Australia and New Zealand. The $300 million AUD acquisition expands C.H. Robinson’s global presence and brings additional capabilities and expertise to the company’s portfolio. C.H. Robinson financed the acquisition and related fees and expenses with cash and funds drawn from the company’s existing revolving credit facility. The company expects the transaction to be modestly accretive to earnings.

“We are excited that APC Logistics is now part of C.H. Robinson,” said John Wiehoff, Chairman and Chief Executive Officer of C.H. Robinson. “The marketplace response to this acquisition has been extremely positive since the announcement. We welcome APC’s customers and suppliers and our new colleagues to C.H. Robinson.”

“With this acquisition, our customers will have an extraordinary opportunity to benefit from the additional services and scale of C.H. Robinson,” said Tony Considine, Chief Executive Officer of APC Logistics. “I would like to thank all of our employees for their continued dedication to providing excellent service to our customers.”

With the acquisition, C.H. Robinson will add a new region to its Global Forwarding division, Oceania, and APC will onboard onto C.H. Robinson’s global technology platform, Navisphere®.

About C.H. Robinson

At C.H. Robinson, we believe in accelerating global trade to seamlessly deliver the products and goods that drive the world’s economy. Using the strengths of our knowledgeable people, proven processes and global technology, we help our customers work smarter, not harder. As one of the world’s largest third-party logistics providers (3PL), we provide a broad portfolio of logistics services, fresh produce sourcing and Managed Services for more than 110,000 customers and 68,000 contract carriers through our integrated network of 280 offices and more than 13,000 employees. In addition, the company, our Foundation and our employees contribute millions of dollars annually to a variety of organizations. Headquartered in Eden Prairie, Minnesota, C.H. Robinson (CHRW) has been publicly traded on the NASDAQ since 1997. For more information, visit http://www.chrobinson.com or view our company video.

About APC Logistics

APC Logistics is one of Australia and New Zealand's largest independently owned, international freight forwarders and customs brokers. Since 1974 its goal has been to provide exemplary service. The company has continued to grow and win business by doing more for its clients with innovative and flexible freight solutions.

Forward-Looking Statements

Except for the historical information contained herein, the matters set forth in this release are forward-looking statements that represent our expectations, beliefs, intentions or strategies concerning future events. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience or our present expectations, including, but not limited to such factors as changes in economic conditions, including changes in market demand and pressures on the pricing for our services; competition and growth rates within the third party logistics industry; freight levels and availability of truck capacity or alternative means of transporting freight, and changes in relationships with existing truck, rail, ocean and air carriers; changes in our customer base due to possible consolidation among our customers; our ability to integrate the operations of acquired companies with our historic operations successfully; risks associated with litigation and insurance coverage; risks associated with operations outside of the U.S.; risks associated with the potential impacts of changes in government regulations; risks associated with the produce industry, including food safety and contamination issues; fuel prices and availability; and the impact of war on the economy; and other risks and uncertainties detailed in our Annual and Quarterly Reports. In addition, such forward-looking statements relate to the expected closing date of the acquisition and the anticipated benefits of the acquisition. Actual results could differ materially from those projected in these forward-looking statements as a result of (i) unexpected delays in obtaining regulatory approvals; (ii) the inability of C.H. Robinson to satisfy the conditions to the consummation of the acquisition; (iii) unforeseen difficulties in integrating the operations of APC Logistics; or (iv) unanticipated negative reaction to the proposed transaction by customers or suppliers. In addition, our expectation regarding the increase in our current revolving credit facility is subject to negotiation of acceptable terms and documentation with the lenders. Any forward looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update such statements to reflect events or circumstances arising after such date.

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