Tropical Shipping Acquires Caribtrans Assets

Tropical Shipping, a subsidiary of Nicor Inc., completed an acquisition of the assets of Caribtrans, Inc., a provider of less-than-container load and full container load consolidation services from the United States to the Caribbean and Central America. The acquisition is expected to add about 4 percent to expected revenue growth and is a strategic fit for expanding Tropical's higher-margin LCL business.

“In fact, Tropical recently completed an acquisition to acquire the assets of Caribtrans, Inc, a provider of less-than-container load and full container load consolidation services from the United States to the Caribbean and Central America. While the acquisition is relatively small in relation to Tropical’s total volumes, adding about 4 percent to expected revenue growth, it is an exceptional strategic fit for us and increases our less-than-container-load business into markets that are important to our long-term success.”

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