Nippon Express has wholly acquired an Italian provider of high-end fashion logistics services.
Headquartered in Verona, Traconf provides warehousing, distribution and other services for the fashion and lifestyle industries in Europe, mainly Italy, as well as the United States and China. The company had revenues of €130m for the year ended December 2017. Their key customer base comprises luxury fashion brands.
The purchase price was €144.5m.
The deal is Nippon Express’ second in the Italian fashion logistics sector, following its acquisition of Franco Vago in 2013, a Florence-based forwarder which also specialises in serving high-end brands.
Indeed, Nippon Express envisages that “the combination of Traconf and Franco Vago will provide us with the mutual access to the customers of both companies, and furthermore the ability of offering each customer with non-stop integrated logistics services from international transportation, product warehousing, to distribution to the markets.
“In terms of our geographic strategies, the complementary interaction of the two companies and the local bases of our group will create a global network beyond the European market, allowing us to provide high quality services to customers worldwide as a leading distributer in the fashion logistics industry.”
Source: Nippon Express
