GeoLogistics sells off Bekins Company
GeoLogistics Corporation announced that it is selling The Bekins Company to Bekins’ agent family. The Bekins Company, acquired in 1996, is more than 100 years old and is one of Americas largest transportation and distribution companies specializing in corporate and private relocations and customized distribution services. (1/8/2002)
“While Bekins has been a positive contributor to GeoLogistics overall, we have decided it does not fit with our current business model,” stated Bob Arovas, President and CEO of GeoLogistics Corporation. “We will now be focusing more on our core business of logistics solutions and international transportation management.” Arovas said the sale will strengthen GeoLogistics’ balance sheet.
“The acquisition of Bekins by our agents underscores their commitment to provide the finest services for our customers,” added Larry Marzullo, CEO and President of The Bekins Company. “The agent-owned model will allow our network to benefit financially and enhance their local, regional and national presence, while providing our employees stability and the support of a network truly committed to Bekins’ products and services.” Bekins operates through a network of 375 agents in more than 400 U.S. locations.
