Kerry Logistics Acquires Majority Stake in Saga Italia S.p.A.
Strengthening Project Logistics Capabilities
2018-06-06 - Milan
Kerry Logistics Network Limited (‘Kerry Logistics’; Stock Code 0636.HK) has acquired a majority stake in Saga Italia S.p.A. (‘Saga Italia’) as part of its ongoing global expansion strategy. With the acquisition of the Milan-based logistics company, Kerry Logistics strengthens its overall service portfolio by adding Saga Italia’s specialised know-how in the fields of project logistics, heavy lift services, and material management.
The acquisition will also add three new countries to Kerry Logistics’ network, namely, the Republic of the Congo, Uganda, and Egypt, as well as new offices in Kazakhstan, Turkmenistan, United Arab Emirates, Russia, and the US.
Founded in 1985, Saga Italia provides end-to-end solutions tailored to its customers’ project requirements. More than 150 logistics professionals manage projects for multinational corporations across the globe, particularly for customers in the oil and gas industry. Saga Italia’s comprehensive range of services also includes a complete suite of international freight forwarding services covering air, ocean, and overland transportation.
Thomas Blank, Managing Director of Europe, Kerry Logistics, said, “With this step, we continue to build upon our expertise in project logistics which currently spreads across China, The Philippines, Indonesia, The Commonwealth of Independent States, and India. Saga Italia’s specialised knowledge further strengthens our activities and will support us to tap into the immense business opportunities as more Belt and Road projects get off the ground. With Saga Italia on our team, we are able to provide a platform to consolidate our project logistics capabilities across the globe.”
Marco Oriolo, owner and Managing Director of Saga Italia, added, “By joining Kerry Logistics our services are leveraged by an extensive network in Asia and Europe. We are looking forward to a successful future as part of the Kerry Logistics team, driving the businesses of our customers through innovative logistics solutions.”