Acquisitions – Page 14
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News
KWE Canada lands forwarder Prestige Air Cargo
The Canadian arm of Kintetsu World Express (KWE) has acquired seafood specialist forwarder Prestige Air Cargo as it looks to grow its customer base.KWE did not disclose the terms of the deal but said the acquisition offers "not only an opportunity to expand its customer base but also to create ...
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NewsCargo handler Skyport changes hands
Infrastructure investment firm Ventus and Singapore-based company Sky Logistica have acquired Prague-based cargo handler Skyport.Skyport offers cargo handling at Prague Airport, where it processes more than half the airport's cargo traffic, and also has operations in Bratislava and Košice, both in Slovakia.“The last twelve months have proved the importance of ...
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News
DSV to break into top three with takeover of Agility GIL
DSV is set to become a top three global forwarder as it continues its expansion through the planned acquisition of Agility Global Integrated Logistics (GIL) in a deal worth around $4.1bn.The purchase is expected to increase DSV's annual revenue by around 23%, which will rank the combined company as one ...
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News
Japan Post's sale of Toll Global Express 'painful'
Japan Post Holdings is expected to sell Toll Global Express at a loss as it looks to offload the troubled business.Earlier this week, Toll Group announced that it had entered into an agreement for the sale of its Global Express business to Australian private equity fund manager Allegro Funds.The Global ...
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News
ACL Airshop targets growth as acquisition by Alinda completes
Unit load device (ULD) company ACL Airshop has been acquired by infrastructure fund manager Alinda Capital Partners.ACL Airshop said the deal completed this month and details of the transaction were not disclosed.According to Steve Townes, president and chief executive at ACL Airshop, the acquisition will be of value to ACL ...
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NewsApex acquisition set to make K+N the leading airfreight forwarder
Kuehne+Nagel (K+N) has entered into a binding agreement to acquire Apex International Corporation as it looks to expand its presence in Asia.Terms of the deal were not disclosed, but Reuters quotes people familiar with the matter as stating that the transaction is valued at around $1.5bn-$2bn.The deal is the largest ...
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News
DSV back on the acquisition trail after strong 2020
DSV Panalpina saw its revenues and profits jump last year and is taking aim at another large acquisition following the integration of Panalpina.Last year, the Copenhagen-headquartered logistics firm saw its revenues increase by 22.4% year on year to Dkk115.9bn, earnings before interest and tax (ebit) before special items was up ...
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News
SF Holding set to invest in Kerry Logistics?
China-based express firm SF Holding is considering investing $5bn in Kerry Logistics, according to Bloomberg.Unnamed sources told the newswire that the Shenzhen-listed firm will invest in a stake of around 20%.The news comes after shares in SF Holdings, which owns SF Express and SF Airlines, were suspended on Friday for ...
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News
JAS Worldwide pounces on Tigers
JAS Worldwide has swooped on freight forwarder Tigers as it looks to broaden its logistics services.The Italy-headquartered firm has signed a share purchase agreement with Geopost, the parcel division of French group La Poste, whereby JAS will acquire Tigers once all regulatory approvals are obtained from the relevant authorities.Tigers operates ...
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News
FedEx confirms acquisition of B777F from Etihad
FedEx Express has confirmed the recent acquisition of a Boeing 777 freighter aircraft from Etihad, as it continues its fleet modernisation.Manager of FedEx communications Jonathan Lyons said the aircraft will go into operation later this year.As of November 30 last year, the express giant had 46 B777 freighters in its ...
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NewsSEKO looks to acquisitions following investment
James T. Gagne - SEKO LogisticsSEKO Logistics is targeting additional acquisitions, technology development and growth in key geographies after securing investment from Ridgemont Equity Partners.The deal will see the logistics firm's current majority shareholder, Greenbriar Equity Group, divest its stake but remain an equity owner. Terms of the transaction were ...
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NewsCEVA continues expansion in Africa with another investment
CEVA Logistics has continued its "strategic" African expansion with an investment in a Moroccan freight forwarder.The freight forwarder today announced the purchase of the ASTI Group in Morocco.CEVA said the two companies had been working together for more than two decades and have delivered a range of multi-modal services to ...
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NewsCEVA rebrands recent African acquisition
CEVA Logistics has completed the rebranding of its summer 2020 acquisitions in Africa, with AMI and MANICA becoming CEVA Logistics from January 2021.The immediate rebranding does not include MANICA in Zimbabwe, Malawi and the borders, which will be branded MANICA a company of CEVA Logistics through to January 2022.As a ...
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News
DSV Panalpina completes Prime Cargo takeover
DSV Panalpina has completed the acquisition of Prime Cargo’s activities in Denmark, Poland and China from Japan-based forwarder Mitsui-Soko Group.Prime Cargo is headquartered in Kolding, Denmark, but operates internationally and also has freight, warehousing and logistics activities in both Poland and China. It specialises in e-commerce and fashion retail.“DSV Panalpina ...
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NewsCEVA expands in Africa with deals in Ethiopia and Egypt
CEVA Logistics has expanded its presence in the African market through investments in companies in Egypt and Ethiopia.In Egypt, the company has taken a majority stake in IBA Freight Services, its exclusive partner for the past 20 years, while in Ethiopia CEVA has taken a minority stake in MACCFA, a ...
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NewsDSV Panalpina expands in Africa with another acquisition
DSV Panalpina is expanding its presence in Africa with the acquisition of Globeflight Worldwide Express, a South Africa-based courier company .As part of the acquisition, which is expected to close in around three months subject to regulatory approvals, DSV Panalpina will take over all of Globeflight’s operations in South Africa ...
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News
Pilot Freight takes over franchise as part of growth efforts
Pilot Freight has acquired its Metro New York franchise as part of efforts to capitalise on the growing e-commerce market.The forwarder said that the franchise is a strategic asset due to the high concentration of deliveries for the Pilot system and the sustained sales growth across all service offerings.The leadership ...
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NewsDSV targets e-commerce with Prime deal while air cargo improves in Q3
DSV Panalpina has acquired e-commerce specialist forwarder Prime Cargo, while it has also announced continued growth in its airfreight business in the third quarter.The Denmark-headquartered forwarder has agreed to purchase Prime Cargo, including its activities in Denmark, Poland and China, from the Mitsui-Soko Group in Japan for an undisclosed sum.Prime ...
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NewsAerSale swoops on 24 B757s as it eyes cargo conversions
Lessor and MRO firm AerSale has entered into a purchase agreement to acquire 24 Boeing 757-200 passenger aircraft that it will convert into freighters.AerSale, which offers and array of aviation services including conversions, said it had targeted Boeing 757 passenger aircraft as feedstock "for a burgeoning freight market".“Pre-Covid, more freight ...
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News
YTO confirms Alibaba share purchase
Chinese e-commerce giant Alibaba Group Holding has upped its stake in delivery firm YTO Express.YTO yesterday confirmed that Alibaba had purchased an additional 12% of its shares for Yuan6.6bn, bringing its stake in the company to 22.5%.News that Alibaba could be looking to up its presence in YTO broke last ...