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PRESS RELEASE
CHICAGO, July 11, 2023 (GLOBE NEWSWIRE) — Redwood Logistics (Redwood), one of the fastest-growing supply chain orchestration and logistics execution companies in North America, today announced the company has acquired Rockfarm Supply Chain Solutions and Global Distribution and Logistics (collectively referred to as “Rockfarm”). The acquisition fortifies Redwood’s modern 4PL services, supplementing its growing tech-enabled managed services and cementing its position as a market leader for supply chain integration. Together, Redwood will now represent a combined $5.5 billion in total platform freight under management between its 3PL and 4PL services.
Founded in 2008, Rockfarm is a tech-enabled transportation logistics company with a focus on flexible, customer-driven service. Many of Rockfarm’s core integration functions overlap with Redwood’s existing suite of services, adding expanded capabilities for Redwood customers in areas such as transportation management, logistics execution and freight visibility.
Redwood’s North American footprint currently includes cross-border transportation service with Redwood Mexico, and the acquisition of Rockfarm will add direct capabilities in international freight forwarding, trade compliance and customs brokerage. Rockfarm also brings additional data warehouse, business intelligence, data translation and claims management tools and services to the Redwood portfolio.
“Redwood customers can now enjoy an enhanced suite of modern 4PL services through the acquisition of Rockfarm. More importantly, the cultural alignment with Rockfarm and strength of the team will mean our combination is even greater than the sum of its parts,” said Mark Yeager, Chief Executive Officer, Redwood. “Together, we’ll offer our customers complete visibility and cohesion across their supply chain by eliminating touchpoints and leveraging business intelligence to identify best-in-class processes and market indicators.”
Rockfarm also brings a deep history of integrating the MercuryGate suite of products and optimizing freight data. Redwood will continue to implement and integrate multiple Transportation Management Systems (TMS) with a proven TMS-agnostic approach, now with dozens of integrators each for MercuryGate and Oracle product suites, along with a variety of other TMS systems and FreightTech apps leveraged across the RedwoodConnect™ open ecosystem.
“As we embark on this new chapter, we remain dedicated to delivering exceptional supply chain services to our customers. Rockfarm’s integration with Redwood places us at the forefront of technological advancements and industry trends, setting a new standard for innovation and progress,” said Todd Colin, Chief Integration Officer, Redwood (formerly Chief Executive Officer, Rockfarm). “From our valued clients to our accomplished employees and esteemed partners, everyone stands to benefit from the expanded expertise and comprehensive freight management and brokerage solutions we now offer.”
Rockfarm ownership, key leadership, management teams and team members will continue to operate as Redwood team members, and Rockfarm’s Dubuque, IA, operation center will continue as a Redwood logistics center.
Redwood’s acquisition of Rockfarm is the latest in a series of strategic acquisitions, making Redwood one of the fastest-growing North American logistics companies. Recent acquisitions include Skipjack and Proactive Global Logistics (PGL) in 2021 to form Redwood Parcel, and Eminent Global Logistics, an Oracle Transportation Management (OTM) leader, in 2019, as it continues to build out its modern 4PL portfolio.
Much Shelist, P.C. advised Redwood on the transaction, and Rockfarm was advised by The Beringer Group and Morgan, Lewis & Bockius LLP.
About Redwood
Redwood Logistics, a leading logistics platform company and modern 4PL headquartered in Chicago, has provided solutions for moving and managing freight for more than 21 years. The company’s diverse portfolio includes digital freight brokerage and flexible freight management all wrapped into a revolutionary logistics and technology delivery model, known as a modern 4PL. Redwood utilizes an open platform for digital logistics that empowers shippers to seamlessly mix-and-match partners, technologies and solutions into their own unique digital supply chain fingerprint. Redwood connects a wide range of customers to the power of supply chain management, technology and the industry’s brightest minds. For more information, visit www.redwoodlogistics.com.
MEDIA CONTACT:
Tyler Thornton
LeadCoverage
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