Echo Global Logistics Buys ‘Purple Plum’ Brokerage

Echo Global Logistics Buys ‘Purple Plum’ Brokerage

Echo Global Logistics acquired the assets of Plum Logistics, a refrigerated truckload freight brokerage in Wakefield, Mass., doing business as Purple Plum.

Echo, which increased revenue 30.2 percent in the first quarter and 41 percent in 2011, will retain all of Plum’s work force, the company said Tuesday.

The $17 million brokerage firm will bolster Echo’s ability to serve shippers by providing refrigerated transportation, the Chicago-based logistics firm said.

Financial terms of the transaction were not released.

“Refrigerated freight service is a strategic component of Echo’s expanding service offering,” said Douglas R. Waggoner, CEO of $602.8 million Echo.

“The acquisition of Purple Plum enhances our ability to offer our clients the simplicity of a complete transportation management solution,” Waggoner said.

Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc.