Atlanta transportation company UPS (NYSE: UPS) is buying Hungary-based Cemelog Zrt, a pharmaceutical logistics company.
UPS expects the deal to strengthen its health care reach in Europe. The transaction is expected to close in the second quarter. Terms were not disclosed.
Cemelog, based in Budapest, provides custom health care-logistics services, including trucking, product delivery and warehouse storage. The company has three health care distribution facilities, which will be added to UPS’ current network.
UBS is acting as UPS’ financial adviser.
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