Joseph Bonney | Jul 18, 2011 10:34AM EDT
Hong Kong-based Kerry Logistics acquired a controlling interest in two groups of companies in China, Shanghai Wisdom Group and Shanghai Huicheng Logistics.
The terms of the deal weren't disclosed.
Shanghai-based Wisdom is a non-vessel-operating common carrier and sea-freight consolidator that is one of the three largest NVOs in the trade between Shanghai and Japan and Southeast Asia.
HCL is a third-party logistics provider specializing in integrated logistics in chemicals, with a special focus on dangerous goods, fast-moving consumer goods and the electromechanical and automotive industries. HCL has a strong position in hazardous chemicals logistics.
"These two acquisitions demonstrate our commitment to building on our strong position in both the ocean freight and logistics sectors in China," said Edwardo Erni, Kerry’s managing director, mainland China.
-- Contact Joseph Bonney at jbonney@joc.com. Follow him on Twitter @josephbonney.
