M&A

M&A

Allcargo Logistics acquires 75% stake in Germany's Fair Trade GmbH

Economic Times  

Publicly listed, Mumbai-headquartered logistics solutions provider, Allcargo Logistics, has acquired 75% stake in Germany's Fair Trade GmbH, through its subsidiary Allcargo Belgium NV. The previous owner will retain the balance 25% stake. The acquisition expands and strengthens the service network of ECU Worldwide (an Allcargo Group Company) in Germany. Fair Trade GmBH handles cargo movement across Europe-Asia, Europe-Latin America, and Europe-North America routes. The combined strength of ECU Worldwide's operations in Hamburg and Fair Trade's operations in Bremen will lead to increase in Allcargo's service offerings and wider footprint in the German market.