Norbert Dentressangle (ND) is set to take over the freight-forwarding operations from the Sri Lankan conglomerate John Keells Group following a share purchase agreement signed on 4 July.
The freight-forwarding operations acquired employ 120 people and reported revenues of nearly €8 million for 2011, with a network of six offices in India, covering the main coastal regions, plus another two in Sri Lanka.
The acquisition - due to be finalised at the end of next month - enables ND to strengthen its growing freight-forwarding business in line with its strategy, and to gain a foothold in the fast-growing Indian and Sri Lankan markets.
This latest acquisition is hot on the heels of ND’s purchase of APC Beijing International in China at the end of 2011.
