Kerry expands footprint in ME, Canada
Kerry Logi stics Network , a leading logistics service provider in Asia, announced two strategic acquisitions to expand reach and capacity of its international freight forwarding (IFF) business in the Middle East and Canada.
February 1, 2015
Kerry Logi stics Network , a leading logistics service provider in Asia, announced two strategic acquisitions to expand reach and capacity of its international freight forwarding (IFF) business in the Middle East and Canada. Kerry Logistics has strengthened its IFF capacity and network through acquiring a controlling stake in Able Logistics Group, an established international freight forwarder headquartered in Dubai with a regional leading position and offices across UAE, Oman, Saudi Arabia, Oman, Afghanistan and China. The company has over 500 corporate customers including multinationals in diversified sectors such as electronics, food and fast moving consumer goods. Able’s management expects to achieve US$135 million in total revenues in 2014.
While in Canada, Kerry Logistics has extended its geographic reach via acquiring majority stakes in Total Logistics Partner Ocean Consolidators Inc. and Total Logistics Partner Air Express Inc. (collectively TLP), two Canadian freight forwarding companies focused on the Asia-Canada trade. The acquisition has added Montreal and Toronto to Kerry Logistics’ worldwide network.
William Ma, group MD of Kerry Logistics said: “These two acquisitions complement our existing IFF network and marked further inroads in our international expansion. With the addition of TLP, Kerry Logistics now operates in four countries in the Americas, comprising USA, Canada, Mexico and Brazil.”