Capital Today-Backed Rokin Logistics To Be Acquired For $382M

Korean logistics firm CJ Korea Express has teamed up with investors to acquire Capital Today-backed Rokin Logistics for US$382 million, according to media reports.

CJ Korea Express, the largest logistics firm in South Korea, will pay around US$260 million.

A fund with backings from Korea’s National Pension Service and Seoul-based private equity firm STIC Investments will contribute the remaining portion of the acquisition.

Representatives at CJ Korea Express did not immediately respond to an inquiry to confirm the news.

Founded in 1985, Shanghai-based Rokin Logistics established a joint venture with China-focused private equity firm Capital Today in 2007, according to its website.

Another investor, Pamoja Group also joined, but China Money Network is unable to confirm the identity of the firm.

Rokin’s specialty is providing logistics services for chilled and frozen foods, chemical products and other general goods including electronics, consumer goods, medicine and equipment.

Nina Xiang is the co-founder and managing editor overseeing editorial content and product development at CMN. Before founding CMN in 2011, Nina worked at BusinessWeek magazine in Beijing and Institutional Investor magazine in New York, writing about business and financial services. While in New York, she also served as part-time correspondent for Shanghai's financial television channel, China Business Network, as well as China Radio International, China's national English-language radio network.