DSC Logistics announced that it will be transferring majority ownership to South Korea based CJ Logistics for $216 million in an effort to further advance continuous transformation within the company.
“CJ Logistics is the right fit, at the right time,” says Ann Drake, CEO of DSC Logistics. “CJ shares our passion for dynamic supply chain leadership and will provide a global platform for DSC, while DSC will provide a platform of expertise, capabilities and leadership in the US.”
The transaction is expected to close in the third quarter of 2018, with Drake remaining as chair of the DSC Advisory Board and retain minority ownership. The company's senior leadership will also remain the same and continue to operate out of Des Plaines, Illinois.
“Following our market expansion into China and Southeast Asia, we are pleased to join forces with DSC Logistics in the US. We look forward to combining our technical capabilities and network to create synergies and to become a market leader in US logistics, especially in the W&D (warehousing and distribution) space,” says Keun Tae Park, president of CJ Logistics.