The NYK Group said Thursday it has acquired a 51 percent stake in Russian logistics provider ROLF Group.
The Japanese company said ROLF will maintain the other 49 percent share, with the two companies forming a joint venture that encompasses ROLF’s supply chain services division. That includes ROLF’s terminal in Lobnya (near Moscow), a customs terminal and service center, completely built-up (CBU) automobile operations in the port of Zarubino, and ROLF’s insurance unit. The venture will also use rented terminals in Naberezhnye Chelny and Petrolesport for CBU services.
NYK said ROLF’s current managers will lead the new joint venture divisions and work in cooperation with NYK representatives. Alexander Larin, who is now chief executive officer of ROLF’s logistics business, will be CEO of the joint company. Both partners also agreed to maintain the ROLF SCS brand.
“The launch of the joint venture will allow the ROLF Group to provide its existing customers and new clients with a wider variety of services and also implement NYK’s best practices into its business processes,” NYK said in a statement. “NYK also has at its disposal a huge network of assets that allows it to maintain logistics operations throughout Europe and around the world.”
Financial terms of the deal were not disclosed. - Eric Johnson