The purchase of the South African freight forwarding and logistics company is Rhenus’ fifth acquisition since November.
German logistics services provider Rhenus Group announced Thursday it had acquired South African freight forwarding and logistics specialist World Net Logistics (WNL), which marked Renus’ fifth acquisition since November.
The deal, of which the terms were not disclosed, is still subject to approval by the relevant cartel authorities.
The core business activities of WNL, headquartered in Johannesburg, involve air and sea freight operations. Its focuses include providing air freight connections between South Africa and Germany and maritime links between South Africa and China and Germany and Great Britain, Rhenus said in a statement.
The company also has its own vehicle fleet for overland services. Its customers mainly come from the automotive, electronics, health care, FCMG and retail sectors, Rhenus said.
“The takeover of World Net Logistics marks an important step for us in establishing a network in South Africa and other African countries,” said Rhenus board member Tobias Bartz. “WNL’s presence in Asia and Europe also strengthens our global network with additional intercontinental connections. We are confident that we will grow further together and that within the Rhenus Group, WNL will continue to develop sustainably.”
Rhenus, which specializes in contract, freight and port logistics and public transport, also announced its acquisition of Canadian logistics provider Rodair earlier this month and in January announced its purchase of British warehousing and freight forwarding company Core Management Logistics. Rhenus, which has sites in 610 locations worldwide, also acquired Italian logistics company Cesped in December and German freight forwarding company SBL Importverkehrslogistik in November.