DSV Panalpina is set to acquire Prime Cargo from Mitsui-Soko Group in Japan. The acquisition includes Prime Cargo’s activities in Denmark, Poland and China.
Within the coming months, DSV Panalpina will acquire Prime Cargo, an international forwarding company that offers tailored freight, warehousing, and logistics solutions. Prime Cargo is headquartered in Kolding, Denmark, but operates internationally and has activities in both Poland and China.
Prime Cargo has a high degree of specialisation within selected verticals where DSV Panalpina has little activity. With Prime Cargo’s strong competencies in the field of e-commerce and fashion retail, of which the current fashion product setup in China plays an important part, the company is a perfect match for DSV Panalpina’s Danish Solutions division and Air & Sea division, respectively.
“Together, we can offer our customers much more. We will strengthen the product offerings to our combined global customer portfolios, which will have a global one-stop service with great value-adding services”, says Henrik Nielsen, Executive Vice President, DSV Air & Sea, Northern Europe.
“We are proud that DSV Panalpina values Prime Cargo’s strong competencies within e-commerce and fashion and that these will act as cornerstones in the growth strategy for the Danish organisations. We believe the acquisition provides a unique opportunity to link our industry focus with DSV’s global network.” Managing Director of Prime Cargo, Morten Høilund.
The transaction is expected to complete within 2-3 months subject to customary conditions, including clearance by applicable competition authorities. Until then Prime Cargo and DSV Panalpina will conduct their businesses as usual and independently.
