Alexander & Baldwin buys distributor Pacific American
Alexander & Baldwin Inc.
said yesterday that its Matson Global Distribution Services subsidiary has acquired Oakland, Calif.-based Pacific American Services LLC. It is the first acquisition for Matson Global.
Pacific American is a regional, asset-light warehousing, packaging and distribution company specializing in value-added goods. Terms of the deal were not disclosed.
"The acquisition of PACAM extends our service reach deeper into our customers' value and supply chains while also providing an excellent platform for expansion in this fast-growing market segment," A&B Chairman and CEO Allen Doane said in a statement.
Pacific American has nearly 1 million square feet of warehousing and distribution space, providing service coverage for the Bay Area and Northern California. A&B spokeswoman Linda Howe said the company is not disclosing the number of Pacific American employees but that it plans to retain them.
"As part of a continuing, focused strategy to grow our domestic presence, we expect to rapidly scale these operations in the next few years," Doane said.
Earlier this year, Honolulu-based A&B acquired the Savannah Logistics Park in Georgia under its real estate leasing segment, A&B Properties Inc. It leased 711,000 square feet of 1 million total square feet of that space last quarter.
Pacific American, founded in 1987, serves hundreds of customers and has extensive experience in handling high-value products in the food and beverage, high-tech and consumer packaged goods sectors, according to the statement.
"We found the right partner at the right time to meet the distribution opportunities of our diversified customer base," said Linda Hothem, Pacific American's CEO and founder.