Hong Kong-headquartered freight forwarder EV Cargo has acquired the remaining 60% of the shares of Allport Netherlands from its joint venture partner.
As part of the transaction, EV Cargo will also acquire the remaining shares in EV Cargo Global Forwarding Belgium to become the sole shareholder of this business as well.
Formed in 2012 as a joint venture between EV Cargo and its chief executive Victor Wever, Allport Netherlands, which has its main operating centre in Rotterdam as well as an office at Schiphol, provides air and sea freight forwarding and purchase order management services for importers and retailers across the Netherlands.
The business will be rebranded as EV Cargo and fully integrated into EV Cargo’s European logistics execution platform. It ll continue to be led by Victor Wever and his team of supply chain professionals, said EV Cargo.
The company aims to surpass $3bn of revenue in the near term through organic growth and strategic M&A activities. The acquisition sees EV Cargo further strengthen its European freight forwarding and logistics execution platform.
Last year, EV Cargo acquired Fast Forward Freight, an Amsterdam headquartered air and sea freight forwarder with operations in the Netherlands, Belgium, Germany, Switzerland, Greece, France and the UK, and Spanish air freight forwarder Air Express Cargo.
Heath Zarin, founder and chief executive of EV Cargo, said: “EV Cargo has now built a substantial European platform to service its many customers in the region, with around 550 employees working out of 25 locations in eight countries and including nearly one million square feet of own-operated warehousing space."
