Menlo Worldwide Announces Major Expansion in China


Menlo Worldwide, LLC, the global logistics subsidiary of Con-way Inc. announced today the signing of a definitive agreement to purchase Chic Holdings Ltd. and its wholly owned subsidiaries Shanghai Chic Logistics Co. Ltd. and Shanghai Chic Supply Chain Management Co. Ltd. Menlo is acquiring privately held Chic Holdings Ltd., a corporation registered in the Cayman Islands, and all of its assets and subsidiaries for a cash payment of US$60 million plus an undisclosed future earn-out incentive based on its performance.


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