cargo-partner makes offer to acquire one third of sim cargo
18 / 07 / 2022
Copyright: Esther Horvath/ cargo-partner
Logistics provider cargo-partner has announced its offer to acquire one third of the shares in European road groupage network sim cargo.
cargo-partner has been a long term partner of the groupage network and a system partner of Germany-headquartered sim cargo, especially for distribution in Central and Eastern Europe.
The logistics player aims to strengthen its road transport network and expand its last-mile solutions throughout Europe.
Stefan Krauter, chief executive of cargo-partner, said: “This strategic investment represents the logical conclusion of our long-standing partnership with sim cargo. We are keen to join forces with sim cargo, one of the largest European road groupage networks, in order to strengthen our network and close the last mile for our customer base in Europe.”
cargo-partner aims to work together with the sim cargo management team to further the strategic development of sim cargo and expand the reach of the network.
Alexander Bauz, managing director of sim cargo, stated: “Working together with cargo-partner as an international player in air and sea freight would accelerate efforts such as our IT project FITs and further strengthen our resilience against unforeseeable events. Moreover, we believe that the entire network can benefit from cargo-partner’s expert knowledge.”
Should sim cargo accept the offer, cargo-partner would aim to finalise the transaction by the end of the third quarter of 2022.
In April, cargo-partner fully acquired its UK-based partner, Aztek International Freight, following its purchase of a third of the company in 2021.
cargo-partner is currently considering its future ownership structure as founder, chairman and chief executive Stefan Krauter prepares to step down.