May 3 - Panalpina World Transport has acquired a majority stake in Carelog Freight Service, a Danish freight forwarding and logistics company.
According to Panalpina, the two companies complement each other ideally in terms of geography, product strengths and customer mix. While Carelog is strong in ocean freight, Panalpina is traditionally strong in airfreight. The merged company will employ approximately 70 people across six locations in all regions of Denmark.
"We want to increase our market share in Denmark," says Stefan Karlen, Panalpina's ceo.
Volker Boehringer, regional ceo Europe at Panalpina, added: "Panalpina and Carelog together create a respectable mid-sized freight forwarding and logistics company in Denmark and provide a solid foundation for further growth."
According to Panalpina the acquisition is in line with its global growth strategy.
Panalpina will also acquire the Kenya-based company, Air Connection, a forwarder specialised in the export of flowers and vegetables. The companies reached an agreement on May 2, 2017, two weeks after Panalpina formally announced the launch of its global perishables network