Allcargo Logistics, an Indian logistics solutions provider and the parent company of ECU Worldwide, has completed the acquisition of a 75% stake in the German logistics firm Fair Trade GmbH.
Therefore, Allcargo Logistics will be the majority shareholder, while the previous owner will retain the remaining 25% stake.
Allcargo Logistics made the acquisition move through its subsidiary Allcargo Belgium NV, operating ECU Worldwide network, but financial information of the transaction have not been disclosed.
The German competition authority approved Fair Trade takeover after the initial agreement which was signed in November 2022.
Allcargo said it expects this move to result in synergies in form of better capacity utilisation, improved efficiencies and better turnaround time.
Shashi Kiran Shetty, founder and chairman of Allcargo Group, commented, “The acquisition comes at an important time for us because it helps us keep up with our strategic expansion plans. Not only does this consolidate ECU Worldwide’s service network and global reach but cements our presence in Germany through Fair Trade GmbH’s impeccable and in-depth understanding of the local market and trade patterns as well as cultural and business fitment to our asset-light business model and service-oriented approach.”
