Market insight: There's no deal – what happened to M&A activity in Q2?
I recently argued that the outlook for multi-billion dollar deals in the supply chain remained ...
Bolloré Logistics – formerly known as SDV – today announced the acquisition of a majority stake in Danish freight forwarder Global Solutions.
The French shipping and logistics conglomerate said the purchase was part of a major drive to expand its presence in Scandinavia and develop trade with Bolloré operations in other regions of the world.
Henri Le Gouis, chief executive of Europe at Bolloré Logistics, said: “This new location will enable us to better serve our key account customers in Denmark and more generally in Scandinavia.
“We will support Danish companies in their international development and logistics projects, particularly in Africa, the continent of the future, with strong market opportunities where we operate as the first integrated logistics network.”
According to Transport Intelligence’s Global Freight Forwarding 2017 report, Bolloré has set its sights on becoming one of the top five logistics providers in the world by 2025.
Ti said: “In addition to strengthening its market position in Africa, it plans to extend its international network and develop major hubs, both in countries in which it already has a presence and in new geographical markets.”
Global Solutions has been operating for 11 years, focusing on air and sea freight forwarding, particularly on the Asia-Europe trade, and express operations, out of two sites, Copenhagen airport and its headquarters in Vejle, the country’s logistics hub.
“We are also aiming to strengthen our range of solutions and services for the aid and relief sector, which is strongly represented in Denmark,” added David Smith, chief executive for Northern Europe at Bolloré Logistics.
According to TI, Bolloré was the eighth-largest forwarder in the world in 2016, with group revenue of €10.08bn. In terms of volumes, it was the eleventh-largest air freight forwarder and the ninth-largest sea freight forwarder.
Bolloré Logistics, known as SDV until a rebranding in 2016, accounted for 54% of group revenue in 2016, hitting the €5.46bn mark.