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Norbert Dentressangle expands geographic footprint with freight forwarding acquisition
Norbert Dentressangle is set to take over the freight forwarding operations from the Sri Lankan conglomerate John Keells Group following a Share Purchase Agreement signed 4 July 2012.
The freight forwarding operations acquired employ 120 people and reported revenues of nearly $10 million (€8 million) for 2011, with a network of six offices in India, covering the main coastal regions, plus another two in Sri Lanka.
The acquisition enables Norbert Dentressangle to strengthen its growing freight forwarding business, in line with its strategy, and to gain a foothold in the fast-growing Indian and Sri Lankan markets. After the acquisition of APC Beijing International in China at the end of 2011, the acquisition of a reliable, recognised major Indian and Sri Lankan freight forwarding player means
the Asian continent is now well served by the Group’s operations.
Norbert Dentressangle’s freight forwarding business now has a network of 50 offices and 600 employees operating in 12 countries on 3 continents.
The transaction is due to be finalised at the end of August 2012.