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.”