Farrow Group Acquires US Customs Broker
Purchase of CORTEZ Customhouse Brokerage Company continues
The Farrow Group’s growth in North America
Russell
A. Farrow (U.S.) Inc. of Taylor, MI has acquired CORTEZ
Customhouse Brokerage Company and CORTEZ Global Logistics, of
Battle Creek, Michigan.
The
acquisition brings together two organizations which have a
similar corporate culture which includes a “client service
first” focus.
In
a statement to employees, President and C.E.O.
(The Farrow group of Companies) Richard Farrow outlined
the reasons for the acquisition:
The
acquisition of CORTEZ
will increase our U.S. brokerage opportunities and provide an
increased market presence in the key trading centre of
Chicago, Illinois. A
Chicago office will positively enhance our relationships with
key existing accounts which have corporate headquarters
situated there. CORTEZ
also has nurtured strong relationships with key automotive
suppliers which will allow us to leverage this market sector
further with our own clients in that industry.
CORTEZ
was founded in 1984, and a Global Logistics Division was added
in 1999. Jack
Henderson, co founder and President will remain in his current
role with Russell A. Farrow (U.S.) Inc.
CORTEZ has 30
staff in Battle Creek, Michigan and Chicago, Illinois.
Service offerings include Customs Brokerage, Foreign
Trade Zone Services, Warehousing, Freight Deconsolidation,
Domestic Trucking and various other related ancillary
services. Their
client base is a mix of suppliers to Japanese automotive
manufacturers, medical equipment manufacturers and food
product manufacturers.
This
strategic growth purchase will be largely transparent to
clients of CORTEZ. As
a subsidiary of Russell A. Farrow (U.S.) Inc., CORTEZ will
continue to provide the same level of service that clients are
accustomed to. In
fact, the same CORTEZ personnel that handled accounts prior to
the purchase will continue to do so.
Jack Henderson, founder of CORTEZ, will remain with the
new company for four (4) years to help ensure a smooth
transition and to continue to grow the business.
The
acquisition of CORTEZ will expand the Farrow network to Battle
Creek, Michigan and Chicago.
CORTEZ manages
a 50,000 + square foot Foreign Trade Zone warehouse on behalf
of the City of Battle Creek, which will compliment both a
10,000 square foot Taylor, Michigan warehouse and 30,000
square foot warehouse in Amherst, New York owned by The Farrow
Group, by providing regional distribution, consolidation,
cross-dock and long term storage for North/South and East/West
cross border shipments. In addition, CORTEZ daily truck service to/from Western
Michigan to Chicagoland will be combined with RAF Express and
result in additional coverage and service offerings.
Russell
A. Farrow Limited, wholly owned by the Farrow Group of
Companies, is the largest privately owned customs broker in
Canada, has grown to 600 employees in 33 offices and
warehouses throughout Canada and the United States. Founded in
1911, the company has a long and rich history of providing a
comprehensive range of integrated solutions to exceed the
expectations of North American importers and exporters. It is
managed by the third generation of the Farrow family, Richard
President and C.E.O., and his brother John Farrow, Executive
Vice President. This is the 14th acquisition for The Farrow
Group since 1984, and the third since 2004.