KPMG announced the acquisition Monday of the U.S.-based supply chain consulting division of Grant Thornton, expanding the auditing firm's financial and operations services.

KPMG will retain 23 supply chain professionals employed at Grant Thornton. The purchase for an undisclosed sum includes the group’s proprietary software and contracts with what KPMG said are “select Fortune 500 companies.”

KPMG said the purchase comes as more companies are undertaking top-to-bottom restructuring of operations, from supplier relationships to financial management across the supply chain.

“As the already strong demand for large scale transformation and restructuring assistance continues to grow, this acquisition helps us provide the functional breadth and depth needed by large organizations across several key industry sectors," said Mark A. Goodburn, vice chairman and head of advisory at KPMG. “It's also consistent with our continuing strategy to build superior large-scale transformation capabilities to serve the world's top organizations.”

Source: JOC