DSV Panalpina has completed the acquisition of South African courier company Globeflight Worldwide Express.
The finalisation comes after the relevant competition authorities approved the deal, which was announced in December.
DSV Panalpina just last week announced the US$4.2-billion acquisition of Agility Global Integrated Logistics.
The acquisition includes all Globeflight’s operations in South Africa and Eswatini. DSV said the deal would immediately fortify its presence in the small express parcel courier sector.
DSV Africa CEO Keith Pienaar said the acquisition constitutes a great match for DSV in South Africa while at the same time tapping into the company’s global mergers and acquisition strategy.
“Both have a culture that is performance-driven and customer-centric and the client fit is complementary and provides room to grow,” Mr Pienaar said.
“DSV Panalpina’s courier business typically centres on larger clients, while Globeflight’s strength is in the express and small parcel market with a particular emphasis in the critical B2B market.
“Together with our new colleagues from Globeflight, we enable further growth for the combined entity while we continue to strengthen our services in and commitment to South Africa.
“Therefore, I am very pleased to be able to welcome the Globeflight organisation to DSV Panalpina,” Mr Pienaar said.
The combined business will have approximately 4000 employees serving approx. 12,000 customers across Southern Africa.
After the acquisition, it is expected that more than 11 million courier shipments per year will be moved, which represent an increase of 30 per cent in volumes for DSV Panalpina in South Africa.