Panalpina acquires majority stake in Danish forwarder

Basel, Switzerland-based freight forwarder and third-party logistics provider Panalpina says Carelog’s strong foothold in ocean freight and roots in the western part of Denmark complements it own expertise in airfreight.    Panalpina World Transport (Holding) Ltd. has acquired Danish freight forwarding and logistics provider Carelog, the company said in a statement.
   Financial terms of the deal were not disclosed.
   Panalpina said Carelog has “a strong foothold in ocean freight and roots in the western part of Denmark. Carelog and Panalpina complement each other ideally in terms of geography, product strengths and customer mix.”
   “We want to increase our market share in Denmark,” Panalpina CEO Stefan Karlen said of the deal. “The country has many export-oriented companies and its biggest industries, namely manufacturing, consumer, retail, fashion as well as healthcare, are industries that we focus on and serve globally.”
   Founded in 2008, the Danish freight forwarding and logistics company started out with customers in the furniture and fashion industry and then expanded to other sectors such as machinery and agriculture.
   Panalpina noted that Carelog is “especially strong in ocean freight,” which complements its own expertise airfreight.
   Lars Engbo, managing director of Carelog, has been appointed as managing director of the combined Denmark operation, which will use the name Panalpina Carelog and have 70 employees.