FT Global Logistics acquires Kyden

FT Global Logistics last
week announced the
acquisition of Kyden
Freight, a clearing and
forwarding company that
has been trading for over
20 years.
Explaining the motivation
behind the deal, FT Global
Logistics managing director
Hilton Tait told FTW that
the acquisition made good
sense.
“FT Global Logistics
is part of the First Tech
group of companies,
which is a large group
of 15 operating divisions
operating primarily
in the manufacturing
arena, and catering
mostly for infrastructure
development,” he said. “The
logistics division, operating
as FT Global Logistics, was
set up in April last year to
look after group imports
and exports.
“The idea was also to
build up an external client
base, but management had
been frustrated in attempts
to grow the company.
FT Global Logistics was
battling to get registered
as a Sars-accredited agent
with deferments, so opted
to acquire a company to
gain these registrations.”
Kyden staff have been
absorbed into management
within the company, he
added.
The new venture will
be marketing itself a lot
more aggressively, said
Tait. “We have already
employed extra sales staff
and launched a promotional
drive.”