UPS will purchase CEMELOG, a Hungary-based pharmaceutical logistics company, as part of its growth and investment strategy.
UPS expects to complete the transaction in the second quarter of 2013, subject to customary closing conditions. Terms of the deal have not been disclosed.
The acquisition adds three additional facilities of about 255,000 square feet of health care distribution space to UPS’s current European network.
“This acquisition is a continuation of our ongoing growth strategy across our business units and allows us to create innovative solutions for our customers that leverage UPS's global network,” said Scott Davis, UPS chairman and CEO, in a written statement. “It will position us well to meet the needs of healthcare companies in a key geographic location as they strive to regionalize logistics operations as a way to increase efficiencies.”