European transport & logistics company Norbert Dentressangle has finalised its takeover of the freight forwarding business from Sri Lanka’s John Keells Group.
Norbert Dentressangle announced a share purchase agreement to acquire the freight forwarding operations in July, part of a strategic push into Asia and complementing the company’s purchase of APC Beijing International in late 2011.
“We continue to strengthen our freight forwarding operations in growing markets and we are now present in all key countries: China, Latin America, the United States, Europe and now India and Sri Lanka,” said Guillaume Col, managing director of Norbert Dentressangle’s freight forwarding division.
“Our network of offices enables us to develop synergies with other Norbert Dentressangle business divisions in Europe.”
John Keells is one of the largest conglomerates in Sri Lanka, and has extensive operations in retail, transport and agribusiness, among other areas.
The Group’s freight forwarding operation comprises six offices in India covering the market’s coastal regions, and two offices in Sri Lanka. The operation had a revenue of US$11m in 2011, and employs 120 people.