Global freight forwarder Dachser has agreed to purchase the Iberian logistics provider Azkar, a company in which Dachser has held a 10-percent stake since 2008.
The two companies have actually been working as partners since 2007 and will operate under the Dachser name starting early next year. The deal is still subject to regulatory approval.
Azkar’s current chief executive officer, José Antonio Orozco, will remain at the top of the company after the deal goes through. The rest of the company’s management team will also stay on, according to a press release announcing the deal. The Spanish company has a big presence in the country, generating more than 367 million euros in revenue last year.
"We are number one in Spain, and with Dachser behind us, we will have access to a dynamically evolving, global logistics network," Orozco said in a statement. “The past five years have also shown that we have a very similar mindset and way of doing business. Our corporate culture corresponds ideally with the values that Dachser, as a family enterprise, stands for.”
Dachser has been expanding lately, primarily by organic means. So far this year, the company has opened new branches in the Netherlands, Vietnam, China and Malaysia. On Nov. 15, Dachser opened up its fourth branch in South Africa; it now has locations in Port Elizabeth, Johannesburg, Durban and Cape Town. The new office in Ho Chi Minh City, Vietnam, opened through a joint venture in August, and the company expects to soon open a second branch in Hanoi.
“We will continue to focus on organic growth,” Dachser’s Bernhard Simon said. - Jon Ross