Eimskip has acquired 90% of the forwarding company Extraco Internationale Expeditie B.V. in the Netherlands. Extraco was founded in 1991 and is located close to the port of Rotterdam. It services importers of chilled and frozen commodities in the Netherlands, and provides import handling, warehousing, custom brokerage and distribution of bulk, chilled and frozen commodities in Europe. The company’s annual turnover amounts to approximately €19m.
Extraco employs 19 people. Following the acquisition, the majority of the company’s current management team will stay on board and own a 10% share in the company. The company will move into Eimskip’s office in Rotterdam to achieve synergies and will form a reefer logistics centre with the other Eimskip businesses there: European Transport Services (E.T.S.), Eimskip Reefer Logistics and Jac. Meisner.
Eimskip reported that this is the first of several accretive acquisitions the company will be making in its core markets in the coming months.
Gylfi Sigfússon, President and CEO of Eimskip said, “We welcome Extraco and all of its customers into the Eimskip group and know that the synergies, increased diversification and the valuable experience of Extraco’s employees will help us to further strengthen our forwarding operation in the Netherlands”.