Kerry Logistics Holding (US) Limited has announced the pending acquisition of a 51% stake in a US-based 3PL for $87.9m. However, Kerry Logistics has not released the name of the company to be acquired.
In a filing with the Hong Kong Stock Exchange, details of the acquired company have been highlighted. According to the filing, the company is one of the top ten non vessel operating common carrier companies in the US in 2014. It was also announced the acquired company has more than 20 years’ experience in the industry and provides ocean freight, air freight, trucking, customs brokerage, logistics and warehousing services as well as specialising in transpacific trade lanes which handled over 275,000 TEU units in 2014.
Kerry Logistics have stated the acquisition in a continuation of the company’s strategy to grow its business organically through acquisition. The acquisition is expected to provide a strong foothold in the US market and is expected to help strengthen the company’s freight forwarding trade lane between Asia and America.
Source: Kerry Logistics