Third party logistics provider SDV has acquired a majority stake in Safcomar Overseas SA.
Safcomar’s new name, SDV Suisse, took effect Jan. 7. Through the deal, SDV adds a new country to its European network and will employ about 20 people in its Geneva and Zurich branches.
“Switzerland is regarded as a strategic market by SDV, especially for the deployment of our key-accounts policy in Europe,” said Henri Le Gouis, SDV chief executive officer of the Western Europe area, in a statement.
“Safcomar has expanded in a number of fast-growing sectors such as pharmaceuticals, bio plasma, perfumes, fragrances and luxury goods,” added Hugo Roppel, the newly appointed CEO of SDV Suisse.
Financial specifics of the deal were not disclosed.
SDV, a subsidiary of the Bolloré Group, operates a network of 540 offices in 93 countries.