Fast-growing freight forwarder Scan Global Logistics (SGL) looks set to continue its global expansion with the addition of a presence in Brazil.
The Danish company announced today that it had signed an agreement with the intent to buy Blu Logistics Brasil Transportes Internacionais.
Blu Logistics is headquartered in Sao Paulo and offers airfreight and seafreight services as well as customs clearance, truckload and cabotage.
Last year the firm generated revenues of BRL570m.
“The new footprint will give a strategic platform to scale the business and expand SGLs global presence to the benefit of customers,” SGL said in a press release.
“Most importantly, and a focus area of SGL, Blu Logistics Brasil will bring comprehensive industry knowledge and local know-how and expand the network in Latin America.”
The transaction is subject to anti-trust approval from Brazilian authorities and closing is expected during the third quarter.
SGL has been expanding through acquisitions and the opening of new offices for a number of years.
Earlier in July, the company continued its expansion with the opening of its first offices in Saudi Arabia.
The forwarder has established two offices in the country – in Riyadh and Jeddah – and has plans to open a third later in the year in Dammam.
And in June, it 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.
However, at the start of the year, SGL said that it would switch its acquisition strategy from adding new markets to growing in key existing markets.
The forwarder said that it will pursue a targeted M&A strategy ensuring all key countries and markets required to service global customers are covered in terms of SGL presence.
“The industry remains fragmented, and SGL still sees significant room for consolidation, with SGL increasingly positioned as a company that is the acquirer of choice,” SGL said.
