Agility buying Kenya’s Starfreight Logistics
Kuwaiti company Agility Logistics has signed an agreement to acquire Kenyan firm Starfreight Logistics Ltd. for an undisclosed sum.
Based in Nairobi, Starfreight has more than 150 employees and two offices in Kenya. Its core services are procurement and clearing of goods and machinery into Africa with major customers including Hewlett Packard, Mitsubishi and Nestle, as well as Kenyan manufacturers in various sectors including automotive, pharmaceutical and agricultural equipment.
Starfreight also offers warehousing and project forwarding, haulage, cross-border documentation and transport, air freight and customs examination.
'For Agility, this acquisition comes at an important time when it is rapidly expanding its network across the globe' said Elias Monem, chief executive officer of Agility for the Middle East and Africa. 'This acquisition is in line with our strategy that includes enhancing our strengths and network in emerging markets. More than 70 percent of the international container cargo comes from or is going to the central and eastern regions of Africa, and this acquisition creates a gateway for us to service this rapidly growing market.'
Dev Bij, managing director and shareholder of Starfreight, said of the acquisition: 'Starfreight is well-positioned among the local and regional logistics players and, with the help of Agility, we will be able to develop our capabilities to now compete on a global scale.'
Agility buying Kenya’s Starfreight Logistics
