The company invested in Able Logistics Group and Total Logistics Partner, giving it a new presence in the Middle East, Canada markets.
Kerry Logistics, a major provider of freight services in Asia, has expanded its global footprint with the acquisition of two freight management firms in Dubai and Canada.
The Hong Kong-based service provider announced it has bought a controlling interest in Able Logistics Group, which has regional offices in the United Arab Emirates, Saudi Arabia, Oman and China. It also acquired majority stakes in the air and ocean units of a Canadian company — Total Logistics Partner Ocean Consolidators Inc. and Total Logistics Partner Air Express Inc., both of which provide freight forwarding services between Asia and Canada.
With the acquisition, Kerry now operates in four countries in the Americas (United States, Canada, Mexico and Brazil) and has offices in Montreal and Toronto. In 2013, the company bought a majority interest in Mexican forwarder Cargo Master’s Group.
Kerry said its strategy is to build a presence across six continents. Able Group provides the company with a key foothold in the Middle East, a popular transshipment hub between Asia and Europe and a growing market in its own right.
The tie up with Kerry gives Able Logistics the ability to better reach the Asian market, officials said.
Kerry Logistics acquires controlling share of two freight forwarding firms
