As part of its global growth strategy, Panalpina has acquired Carelog, a Danish freight forwarding and logistics company with a strong foothold in ocean freight and roots in the western part of Denmark. Carelog and Panalpina complement each other ideally in terms of geography, product strengths and customer mix.
Panalpina World Transport (Holding) Ltd. has acquired a majority stake in Carelog Freight Service A/S and its subsidiaries. The transaction was completed 2 may in Copenhagen, Denmark.
“Panalpina and Carelog together create a respectable mid-sized freight forwarding and logistics company in Denmark and provide a solid foundation for further growth,” says Volker Boehringer, regional CEO Europe at Panalpina. “In a market that is dominated by few enterprises, we have now a broader geographical footprint and a stronger, more balanced product offering. The ambition is clearly to become a leading player in Denmark.”
The two companies have agreed not to disclose any financial details of the deal.