Scan Global Logistics (SGL) has completed the acquisition of Italian freight forwarder Foppiani Shipping & Logistics following the approval of Italian competition authorities.
Headquartered in Prato, Foppiani generates yearly revenue of €115m, employs more than 160 people and offers a range of airfreight and ocean freight services.
The forwarder focuses on customers in sectors including fashion, retail and automotive. It has multiple locations in Italy as well as subsidiaries in Asia and the US.
SGL’s latest acquisition follows its announcement earlier this year that it planned to make more acquisitionswith a focus on growing in key markets.
Allan Melgaard, global chief executive at Denmark-headquartered SGL, said: “Italy has been a priority for SGL for some time and we are thrilled to welcome Foppiani to the family. It was evident from the first meeting that there was a ‘meeting of the minds’ when it comes to entrepreneurship, customer focus and focus on employees.
“Italy represents a tremendous opportunity in several sectors and we firmly believe that Foppiani is the right platform to further grow our business, both with existing and new customers.”
In the last few years, SGL has expanded steadily in Europe with new business developments spanning Portugal, Romania, Switzerland and Ukraine.
Foppiani’s market position is expected to provide SGL with a solid foundation in Italy to further develop the Italian market and key trade lanes.
“The airfreight product to the US, with highly specialised solutions that caters to the Italian-made fashion and retail industry, will complement SGL’s current product offerings in the Trans-Atlantic trade,” said SGL.
Foppiani also does business with major Italian automotive manufacturers. SGL said this aligns with its solutions in the automotive special logistics market.
Besides Italy, Foppiani has offices in China, Hong Kong, Japan, Singapore, South Korea and the US.
Enrico Rossi & Paolo Cavicchi, the owners of Foppiani, commented: “Our customers and employees are the main reason for our success, and with SGL we have found a company that shares our approach to business and life. And with SGL’s global presence and services, we can further expand our reach to service our customers in even better.”
