All Acquisitions Articles – Page 21
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Kuehne+Nagel makes another perishables acquisition
Kuehne + Nagel (K+N) has completed the acquisition of the perishables business of Panatlantic Logistics, Ecuador.K+N said the acquisition will enable it to strengthen its position in the export market to the US, Europe and the Asia-Pacific region.Yngve Ruud, member of the Managing Board of K+N International, responsible for airfreight, ...
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ECS Group adds to Americas network with BCS Air acquisition in Brazil
ECS Group has acquired BCS Air, the Brazil-based general sales and services agent (GSSA), a partnership that will provide airlines in Latin America and the US with the full range of cargo outsourcing solutions.BCS Air is an established GSSA with more than 20 years of experience in the air cargo ...
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Swissport integrating Aerocare in Australia and New Zealand
Swissport International is pushing ahead with the integration of the Aerocare organisation in Australia and New Zealand.Following the Aerocare acquisition in March 2018, the registered company name was changed to Swissport Australia as confirmed by the Australian Securities and Investments Commission.Eric Born, group president and chief executive of Swissport International, ...
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Cinven set for Envirotainer acquisition
Specialist pharma-chain ULD provider Envirotainer is set to have a new owner after private equity firm Cinven acquired all the shares of majority stakeholder AAC Capital for an undisclosed sum.Michael Berg, chief executive of Envirotainer, said: “Cinven is one of Europe’s leading private equity firms, with substantial activities in healthcare ...
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Lufthansa "in contact" with low-cost carrier Norwegian
Lufthansa is "in contact" with European low-cost carrier Norwegian Air Shuttle, which is already the target of a bid interest by British Airways owner IAG, confirmed Carsten Spohr, chief executive of the German flag carrier, Reuters reports.Shares in Norwegian Air jumped more than 10% on Monday following the comments by ...
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Finlogistics acquisition doubles Leman’s Finland footprint
Danish-based logistics company Leman has acquired Finland-based FL Services Finlogistics, doubling its presence in the country.Based in Kerava, 35km north of Helsinki as well as in Kotka, Finlogistics offers airfreight, sea freight and logistics solutions. It has ten employees and a turnover of €9m.Leman Group chief executive Thomas Krøyer said ...
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WiseTech Global acquires Turkey’s Ulukom
WiseTech Global, a logistics industry software provider, has acquired Ulukom, based in Turkey.Headquartered in Istanbul, Ulukom offers a range of logistics, customs, freight forwarding and warehouse support software in its Logistics Information Management System, designed to carry out financial and operational transactions on an integrated platform.Ulukom’s customers include Çelebi Ground ...
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UK air charter broker Hunt & Palmer buys Aircraft Chartering Services
UK air charter broker Hunt & Palmer (H&P) has acquired Aircraft Chartering Services Ltd upon the retirement of the founder, Mark Hugo.Aircraft Chartering Services was started in May 1986 and has established a "diversified client base consisting of world-renowned orchestras, government departments, niche tour operators and various corporations," according to ...
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DHL gears up for Formula 1 season
DHL and Formula 1 are extending their global partnership ahead of the start of the 2018 season, which will open with the Rolex Australian Grand Prix in Melbourne on March 23-25.DHL remains the Official Logistics Partner, and the agreement also makes it the first official partner of the F1 eSports ...
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Nippon Express out the 'hanger' with fashion logistics takeover
Japanese forwarder Nippon Express has purchased Italian fashion logistics firm Traconf for €144.5m as it looks to expand outside of its home market and further develop its apparel services.Nippon Express said it believed the acquisition would help it grow its fashion logistics business dramatically and would fit well with its ...
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Bolloré Logistics takes majority stake in Denmark's Global Solutions
Bolloré Logistics has taken a majority stake in the Danish freight forwarder Global Solutions as part of the French forwarder’s “strategic development through external growth”.A Bolloré spokesperson said: “This latest transaction will expand further Bolloré Logistics’ network in Europe and the company’s global end-to-end offering in the Scandinavian markets.“Already established ...
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Rhenus Group swoops on Brazilian forwarder to strengthen regional presence
The Rhenus Group has taken over Brazil-based freight forwarder and customs broker Pirâmide SeaAir in part to help speed up the flow of goods into and out of the country.The German logistics group said that Pirâmide SeaAirhas been operating as a licenced customs clearance broker for more than 20 years ...
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Experts downplay speculation that Home Depot will bid for XPO Logistics
Delivery expert ParcelHero has warned that a rumoured sale of XPO Logistics to US retailer Home Depot is "highly unlikely" and would harm XPO’s many UK retail and manufacturing clients.According to ParcelHero’s head of consumer research, David Jinks, a takeover bid by US-based DIY retailer Home Depot for XPO, in ...
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Forwarder Leman continues UK expansion with Maru deal
Denmark-based freight forwarder Leman has continued to expand its presence in the UK with the acquisition of Maru International for an undisclosed sum.Maru provides air and sea logistics solutions and also has a strong presence in the European road transport market from its offices in Dewsbury, Braintree and just outside ...
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Takeover of Kenyan perishables forwarders to go ahead, with conditions
Kenya’s competition watchdog has approved “with conditions” the takeover of two specialist perishables forwarders in the African country by European logistics giants Kuehne+Nagel (K+N) and Panalpina.The Competition Authority of Kenya has approved the acquisition of Air Connection by Panalpina Airflo Ltd, Panalpina Airflo BV and Panalpina Kenya Ltd, but ordered ...
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China’s HNA buys Hahn airport stake
China’s HNA Airport Group has completed its €15.1 million purchase of a 82.5% stake in Germany’s Frankfurt-Hahn airport, announced previously.It ends an uncertain period in the history of the airport; in June 2016 it appeared to have sold the tranche to shadowy Chinese investor, Shanghai Yiqian Trading Co, but the ...
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Analyst sees upsurge in forwarding mergers
Increasingly disparate financial performance among leading players will lead to more mergers and acquisitions in freight forwarding, says two industry experts.David Kerstens and Hamish Dalgarno, respectively equity analyst and equity associate at investment banker Jefferies International said in a report that there is a growing performance divide in the freight ...
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Qatar Airways dumps plan for American Airline stake
Qatar Airways has dropped a plan to acquire up to a 10% stake in American Airlines, according to press reports. In a statement, the Middle Eastern carrier said that “taking into account the latest public disclosure of American Airlines”, the investment “no longer meets our objectives”.The US carrier had vociferously ...
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Kuehne+Nagel expects to make more perishables logistics acquisitions
Freight forwarder Kuhne+Nagel (K+N) is expecting further consolidation in the perishables logistics market after it yesterday announced the acquisition of two companies.Speaking shortly after announcing the company’s second-quarter results and the acquisition of two perishables forwarders, chief executive Detlef Trefzger said that K+N’s market share in the sector was “extremely ...
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K+N expands perishables network with US and Kenyan acquisitions
Kuehne + Nagel (K+N) has expanded its global perishables network with the acquisition of sector specialist forwarders Commodity Forwarders Inc. (CFI) in the US and Trillvane in Kenya.Switzerland-based K+N said that the two acquisitions would add more than 150,000 tons of annual perishables traffic to its network and “further strengthens ...