Bolloré Group subsidiary SDV has acquired an 80 percent majority stake in Getco, an Italian multimodal transport operator based in Milan.
Getco offers ocean consolidation services from Livorno and has annual revenues of 15 million euros ($19.55 million). It currently moves 8,000 TEUs annually.
SDV is a supply chain management service company that has a network of 540 offices in 93 countries. It has services that focus on five key shipping areas: multimodal transport, customs and regulatory compliance, logistics, industrial projects, and supply chain services.
“The arrival of SDV will allow the company to support Getco’s growth while offering many possibilities to our employees”, said Guido Noé, Getco's chief executive officer, in a statement. “I wish to accompany these developments during the next two years in order to achieve this transition.”
SDV said the Getco buy will enhance its maritime expertise in Italy, also supporting its activities in the French Overseas Territories and in the Middle East. “This move is part of a major external growth policy aimed at strengthening SDV’s ocean freight offerings in all European countries,” said Henri Le Gouis, SDV CEO for Western Europe. - Geoff Whiting