The latest acquisition will add three countries to the rapidly expanding network.
Kerry Logistics Network Ltd. has acquired a majority stake in logistics provider Saga Italia S.p.A.
Financial terms of the deal were not disclosed.
Milan, Italy-based Saga Italia specializes in project logistics and material management. It provides international freight-forwarding services covering air, ocean and overland transportation.
Kerry Logistics said the acquisition will add three new countries to its network — the Republic of Congo, Uganda and Egypt — and new offices in Kazakhstan, Turkmenistan, United Arab Emirates, Russia and the United States.
“With this step, we continue to build upon our expertise in project logistics, which currently spreads across China, the Philippines, Indonesia, The Commonwealth of Independent States and India,” Thomas Blank, managing director of Europe for Kerry Logistics, said.
Kerry Logistics, which delivered strong earnings growth in 2017, said this latest acquisition is part of its ongoing global expansion strategy.
Just last week, Kerry Logistics announced the acquisition of Shipping and Airfreight Services (Pty) Limited (S.A.S.), a freight-forwarding and logistics company based in Johannesburg, South Africa.
Kerry Logistics buys majority stake in Saga Italia
Key Takeaways:
- Kerry Logistics Network Ltd. acquired a majority stake in Saga Italia S.p.A., expanding its project logistics capabilities.
- The acquisition adds three new countries (Republic of Congo, Uganda, and Egypt) to Kerry Logistics' network.
- New offices will be established in Kazakhstan, Turkmenistan, UAE, Russia, and the U.S. as a result of the deal.
- This acquisition reflects Kerry Logistics' continued global expansion strategy and follows a recent acquisition in South Africa.
Key takeaways sponsored by SONAR
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