OTS Logistics to acquire Confreight Group in Europe
OTS Logistics Group has signed a sale and purchase agreement to acquire the Confreight Group, a European ocean freight transporter. The move is expected to significantly expand the group's global coverage.
The agreement with the predominantly European neutral consolidator is intended to bolster subsidiary Vanguard Logistics' presence in Belgium, France, Germany, Holland, Italy, Poland, Spain, the UK and other European countries.
"We acquired significant businesses in Asia Pacific, particularly in China in 2005 as part of our growth strategy. This agreement is a continuation of our global expansion strategy and we will move to immediately establish our Vanguard brand in Europe," said the chairman of OTS Logistics Group, Owen Glenn.
The organisation said it vetted a number of target possibilities before deciding to acquire the Confreight Group. "The exercise took almost 18 months but in the end we were attracted to the quality of the people, management and to the reputation that the Confreight brand enjoyed in the market place" said Charles Brennan, the group's global COO.
The agreement with the predominantly European neutral consolidator is intended to bolster subsidiary Vanguard Logistics' presence in Belgium, France, Germany, Holland, Italy, Poland, Spain, the UK and other European countries.
"We acquired significant businesses in Asia Pacific, particularly in China in 2005 as part of our growth strategy. This agreement is a continuation of our global expansion strategy and we will move to immediately establish our Vanguard brand in Europe," said the chairman of OTS Logistics Group, Owen Glenn.
The organisation said it vetted a number of target possibilities before deciding to acquire the Confreight Group. "The exercise took almost 18 months but in the end we were attracted to the quality of the people, management and to the reputation that the Confreight brand enjoyed in the market place" said Charles Brennan, the group's global COO.
