Monday, November 18, 2019

Asian Logistics Group Acquires Turkish Freight Forwarding Outfit

Group Aims to Establish Foothold with Potential for Growth
Shipping News Feature

TURKEY – Kerry Logistics has announced the acquisition of a majority interest in Turkey’s Asav Lojistik Hizmetleri Anonim Sirketi (ASAV) to further the expansion of its global network and strengthen its international freight forwarding capabilities. As it looks to build upon ASAV’s established operations and a diversified mix customers, Kerry Logistics hopes that the acquisition will help the company gain a major foothold in Turkey and further consolidate its network and capabilities in the region.

Founded in 1994 in Turkey, ASAV was apparently ranked first in Turkey’s Top 5 Agents by tonnage flown, according to 2017 and 2018 yearly IATA rankings, offering air, ocean and road freight to the market. ASAV has seven offices across the country, including five in Istanbul, one in Bursa and one in Izmir as well as one in Amsterdam, the Netherlands. It also has a warehouse of 452,000 square feet in Istanbul combining bonded and non-bonded storage areas plus a bonded warehouse of 21,500 square feet in Amsterdam. Melek Karabacak, Vice Chair of ASAV, commented:

“For the past 25 years, ASAV has built a solid foundation and a rich customer portfolio in Turkey and the region. Joining Kerry Logistics is an exciting news for us. We are looking forward to combining our local and regional expertise with Kerry Logistics’ global network and extensive service offerings to support our ongoing development and provide a broader range of innovative solutions to our existing and future customers.”

Taking into account the positive profit growth and expansion potential in the international freight forwarding division, Kerry Logistics says it will continue to focus on expanding its forwarding business both organically and through mergers and acquisitions. Mathieu Biron, Managing Director, Global Freight Forwarding of Kerry Logistics, said:

“We are excited to work with ASAV, a young, dynamic and highly professional team, to tap into the business potential of a promising market and create greater synergy with the diverse mix of customers it brings. The partnership is poised to significantly boost our IFF capabilities in Turkey and enrich our resources in the Europe-Asia freight route, instrumental in helping us to further expand our IFF business worldwide.”