Kerry Logistics acquires two Chinese firms
Kerry Logistics has acquired a controlling interest in Chinese companies Shanghai Wisdom Group and Shanghai Huicheng Logistics.
Kerry said the deals would strengthen its presence in the ocean freight and third-party logistics sectors.
Wisdom is a Shanghai-based non-vessel-operating common carrier that Kerry said enjoys a prominent position in the local sea freight business and ranks in the top three companies operating out of Shanghai serving the Japan and Southeast Asia trade routes.
Shanghai Huicheng Logistics is a third-party logistics provider specializing in integrated logistics in chemicals, with a special focus on dangerous goods, “fast moving consumer goods, electromechanical and automotive industries.
Kerry said the chemical logistics provides significant synergies for Kerry Logistics’ business in China.