Allcargo expands in Germany through 75% stake acquisition in Fair Trade
Fair Trade GmBH has been a major player in the consolidation segment in Germany, handling cargo movement across Europe-Asia, Europe-Latin America, and Europe-North America routes.
Allcargo Logistics will be the majority shareholder, and the previous owner will retain the balance 25 percent stake. The acquisition expands and strengthens the service network of ECU Worldwide (an Allcargo Group Company) in a strategically important market of Germany with sizeable volumes.
Shashi Kiran Shetty, Allcargo Group: “Not only does this consolidate ECU Worldwide's service network and global reach but cements our presence in Germany through Fair Trade GmbH’s impeccable and in-depth understanding of the local market and trade patterns as well as cultural and business fitment to our asset-light business model and service-oriented approach.”
Ravi Jakhar, Allcargo Logistics: “Fair Trade GmbH opens up untapped opportunities that will not only lead to incremental increase in revenue and margins but accelerate our sales and marketing operations in a key European market."
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