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Hipage acquires competitor.

The Hipage Company, Inc., a customs broker and international freight forwarder founded in Norfolk in 1927, recently acquired W.M. Stone & Company, Inc., a local competitor, for an undisclosed amount.

Both firms, privately held, are based in Norfolk. All full time W.M. Stone employees have been offered positions at HIPAGE, which employs 150 people in 12 offices in five states.

The acquisition of W. M. Stone fits our culture," said Linwood D. Beckner, part owner and executive vice president of HIPAGE. "We have known and respected each other for many years, even though we have been competitors."
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Title Annotation:Trade News; Hipage Company, Inc.; W.M. Stone & Company, Inc.
Comment:Hipage acquires competitor.(Trade News)(Hipage Company, Inc.)(W.M. Stone & Company, Inc.)
Publication:Tea & Coffee Trade Journal
Article Type:Brief article
Geographic Code:1USA
Date:Jun 1, 2008
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