Norbert Dentressangle drives growth with China buy
Logistics company Norbert Dentressangle has completed its acquisition of Chinese freight forwarder APC Beijing International.
The deal was first announced on 26 July following a memorandum of understanding between the two companies.
Norbert Dentressangle, which has its UK operations based in Northampton, said the deal would strengthen its Chinese network and improve its service offering in airfreight forwarding.
The company described China as "a major hub for international trade".
In 2010, APC Beijing International generated revenue of €50m and had 270 employees. It operates a network of 16 offices covering all of China's key coastal and inland regions.
APC Beijing International will be consolidated in Norbert Dentressangle's financial statements as of 1 December 2011, the company confirmed.
"With the acquisition, Norbert Dentressangle has positioned itself as a major player in the freight forwarding market," said Norbert Dentressangle. "The company will comprise 500 employees and 39 offices in ten countries on four continents, including Europe, North and South America, and Asia."
The acquisition was paid entirely in cash from Norbert Dentressangle's existing resources.
