Cargo Breaking News
SGL Group ApS yesterday announced that the company has signed an agreement to acquire 100% of the shares in Foppiani Shipping & Logistics, through its wholly-owned subsidiary Scan Global Logistics A/S.
The transaction is subject to anti-trust approval from Italian authorities, and closing is expected during Q2 2024.
Foppiani Shipping & Logistics is an Italian freight forwarder headquartered in Prato, specialising in air and ocean freight services for fashion, furniture, high-end Italian products and automotive sectors. Foppiani Shipping & Logistics generates yearly revenue of EUR 115m.
The acquisition of Foppiani Shipping & Logistics provides SGL Group with an operational platform in Italy which enables SGL Group to establish its strategic presence in Italy and gives SGL Group a strategic platform to scale the business and expand its global presence to the benefit of customers.
Most importantly, Foppiani Shipping & Logistics will bring additional human capital with comprehensive industry knowledge and niche experience; people with a perfect match to SGL Group’s DNA and culture.
