Key Highlights
- Key milestone in EV Cargo’s corporate growth strategy, expanding its European network and enabling further development opportunities.
- Adds more than $90 million of revenue to EV Cargo, resulting in pro forma combined sales of over $1.5 billion.
- Further strengthens EV Cargo’s proposition in the strategically important Netherlands market and specifically at Rotterdam, Europe’s largest sea freight gateway.
- Adds many new customers, specifically strengthening EV Cargo’s presence in the European retail and consumer goods sector.
HONG KONG, Feb. 16, 2023 (GLOBE NEWSWIRE) -- EV Cargo, a Hong Kong headquartered global freight forwarding and supply chain services company, is pleased to announce, subject to merger control approval, the acquisition of the remaining 60% of the shares of Allport Netherlands from its joint venture partner, making EV Cargo the sole shareholder of the company. As part of the transaction, EV Cargo will also acquire the remaining shares in EV Cargo Global Forwarding Belgium to become the sole shareholder of this business as well.
Formed in 2012 as a joint venture between EV Cargo and Allport Netherlands CEO Victor Wever, the company, which has its main operating centre in Rotterdam as well as an office at Schiphol, has grown rapidly by providing high quality air and sea freight forwarding and PO management services for importers and retailers across the Netherlands. The business, which will be re-branded as EV Cargo and fully integrated into EV Cargo’s European logistics execution platform, will continue to be led by Victor Wever and his excellent team of highly experienced supply chain professionals.
EV Cargo, which manages supply chains for the world’s leading brands, aims to surpass $3bn of revenue in the near term through organic growth and strategic M&A activities. This strategic acquisition sees EV Cargo further strengthen its European freight forwarding and logistics execution platform. It follows the successful acquisition and integration in 2022 of both Fast Forward Freight, an Amsterdam headquartered air and sea freight forwarder with operations in the Netherlands, Belgium, Germany, Switzerland, Greece, France and the UK and Spanish air freight forwarder Air Express Cargo.
Commenting on the transaction, Heath Zarin, Founder and CEO of EV Cargo, said: “EV Cargo has now built a substantial European platform to service its many customers in the region, with around 550 employees working out of 25 locations in 8 countries and including nearly one million square feet of own-operated warehousing space. This transaction further strengthens our platform, adding excellent colleagues, capabilities and customers. We look forward to welcoming Allport Netherlands to the EV Cargo family.”
Victor Wever, Founder and CEO of Allport Netherlands, added: “EV Cargo provides an outstanding platform in terms of its proprietary technology stack, physical infrastructure and global network coverage, all of which will enable us to accelerate our growth story, by serving our customers and managing their supply chains every day while also creating great career opportunities for our people. We are all very excited to join the EV Cargo family.”
Notes for editors
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About EV Cargo:
About EV Cargo: Created by EmergeVest, EV Cargo is a global technology-enabled supply chain and logistics execution platform for the world’s leading brands, providing air and sea freight, road freight and contract logistics services. EV Cargo’s experienced team of 2,900+ employees operating from 81 offices and locations worldwide offer unique mission-critical end-to-end supply chain solutions to more than 9,000 customers across the retail, consumer and industrial sectors. EV Cargo’s global network includes direct investments in 25 countries and further operational coverage through partners in 150 countries. For 2021, EV Cargo’s revenue surpassed $1.5bn, moving more than $50bn of merchandise between 700+ country pairs.
EV Cargo is a purpose-led organization focused on powering the global economy. EV Cargo manages supply chains for the world’s leading brands, which includes the flow of goods, data and funds on behalf of pioneering businesses of all sizes. Guided by its core values of growth, innovation and sustainability, EV Cargo is committed to its vision of driving the digital transformation of logistics, through its proprietary tech platform ONE EV Cargo. When matched with the insight of EV Cargo subject matter experts, the company provides a unique technology-enabled service and acts as a digital hub enabling global trade.
EV Cargo was created in 2018 by Hong Kong-based growth-oriented private equity investment group EmergeVest, facilitating a step-change in value creation via a sizeable, scalable and diversified logistics-technology company, well-positioned for future growth.
Media contact:
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For further information please contact:
Christen Thomson, Senior Director, Citigate Dewe Rogerson:
christen.thomson@citigatedewerogerson.com
Angharad Couch, Director, Citigate Dewe Rogerson
angharad.couch@citigatedewerogerson.com
