Nippon Express has completed the acquisition of cargo-partner through a special purpose company that is a wholly-owned subsidiary of Nippon Express Europe.
The deal was announced on May 12, 2023 as cargo-partner founder Stefan Krauter decided to sell the company to Nippon on its 40th anniversary.
“Headquartered in Austria, cargo-partner has a robust logistics business base in Central and Eastern Europe, a region that is increasingly attracting attention as an industrial cluster in Europe. It is a highly reputable corporate group focused principally on air and ocean freight forwarding in Europe, Asia, and North America that also offers rail and truck transport and contract logistics services,” says an official release.
The subsidiarisation of cargo-partner will complement the Nippon Group’s logistics infrastructure in Central and Eastern Europe, expected to see significant future growth as a production base within the European region, the release added.
Cargo-partner reported consolidated sales of €2.06 billion in 2022 and EBIT of €71.5 million for the year ended 2022.