The deal – which is expected to complete early next year – will add three warehouses and a fleet of 170 temperature-controlled trucks to UPS’ European drug distribution network. The US firm will also take on Poltraf’s workforce.
UPS Europe president Cindy Miller said: "Poltraf complements our mainland Europe expansion plan and we are now able to provide healthcare companies access to a single source for logistics solutions across the continent, helping to achieve greater supply chain efficiencies and compliance with relevant guidelines."
UPS has been building its presence in the European healthcare logistics market since December 2011 when it bought Italy’s Pieffe. The takeovers continued in 2013 with Hungarian firm Cemelog and this year with UK-based outfit, Polar Speed.
But UPS’ European growth strategy has not always run smoothly.
In early 2013 the firm pulled out of its bid to buy Holland-based logistics firm TNT Express – whose subsidiary Pharmasafe provides healthcare logistics services - after the European Commission (EC) said the deal would break competition rules.
Similarly, UPS – along with rival Fedex - was rumored to have been interested in buying London-headquartered World Courier in 2012. The UK logistics firm was eventually bought by AmerisourceBergen for $520m (€395m) in March of that year.