Penske Logistics announced it has reached an agreement to acquire Transfreight North America, a provider of third-party logistics and supply chain solutions, from Mitsui. Financial terms were not disclosed.

Transfreight currently operates from 27 locations across the Midwest, Canada and Mexico with headquarters in Erlanger, KY and in Kitchener, Ontario, Canada.

“The Transfreight and Mitsui management teams have built a well-run and respected business over the last 27 years,” said Penske Logistics president Marc Althen. “This acquisition provides us with a very complementary mix of business and services as well as new team members from a highly customer-focused culture. Customers from both companies will benefit from the strengths of the combined organization’s industry expertise, technological capabilities, and the breadth of supply chain and logistics solutions.”

“We are excited about the opportunities that lie ahead for Transfreight North America,” said Mitsui Integrated Transportation Systems Business Unit, chief operating officer, Tatsuo Yasunaga. “Mitsui and Penske both believe in putting the customer first, and we share the same values.”