With an eye toward expanding its logistics services reach into both the United States and United Kingdom, Danish group DSV has purchased SBS Worldwide Holdings for an undisclosed amount.
DSV's purchase of SBS, which reported 2012 revenues of $77.87 million, is expected to double cargo volumes on U.S.-U.K. routes for the company's air and sea division, according to a press release announcing the deal.
"SBS Worldwide is an excellent match for DSV," DSV's chief executive, Jens Bjorn Andersen, said in a statement. "It is a well-run company with good customer relations and a high service level. The U.S. and U.K. are already important markets for DSV, and the acquisition of SBS will strengthen us further."
The deal marks DSV's second large acquisition this year; it purchased the Colombia-based Airmar Cargo in June. - Jon Ross