Kerry buys Taiwan pharma logistics firm

   Hong Kong-based Kerry Logistics said on Monday that it has acquired Taiwan-based Trustspeed Medicine Logistics.
   The acquisition will strengthen Kerry’s capabilities in the pharmaceutical and healthcare logistics sector and extend its Asian distribution network in the market, the company said.
   “This is a major step forward for Kerry Logistics to expand its presence in Taiwan’s dynamic and growing pharmaceutical and healthcare sector. We aim to tap into the huge potential of this market by further enhancing our specialty in this area,” said Richard Shen, chairman of Kerry TJ Logistics, the firm’s pharmaceutical logistics subsidiary.
   Established in 1997, TS Logistics runs eight distribution hubs in Taiwan with a transportation fleet of 200 vehicles. It provides warehousing and distribution of medicines to hospitals and pharmacies, covering daily delivery, urgent order fulfilment, and packaging.
   Kerry will rebrand the acquisition as TS Logistics.