DSV Panalpina has completed the acquisition of South African-based courier company Globeflight Worldwide Express following approval by the relevant competition authorities. The deal was initially announced in December last year.
The acquisition includes all Globeflight’s operations in South Africa and Swaziland and is consistent with DSV Panalpina’s global strategy of growth through acquisitions, says Keith Pienaar, CEO, DSV Africa.
“The acquisition of Globeflight constitutes a great match for DSV in South Africa while at the same time tapping into our global M&A strategy. DSV Panalpina’s courier business typically centres on larger clients, while Globeflight’s strength is in the express and small parcel market, with a particular emphasis in the critical B2B market,” says Pienaar.
“It both coincides with the substantial investments in infrastructure and transport management systems which enable increases in productivity and efficiency and the investments the group is making in building large-scale logistics facilities in Gauteng and the Western Cape.”
The combined business will have approximately 4 000 employees serving approximately 12 000 customers across southern Africa.
After the acquisition, it is expected that more than 11 million courier shipments per year will be moved, which represent an increase of 30% in volumes for DSV Panalpina in South Africa.