India’s Allcargo Logistics, through its wholly-owned subsidiary Ecu Line, has acquired Econocaribe Consolidators, a Miami-based non-vessel-owning common carrier and ocean freight consolidator with considerable presence in North America.
“This acquisition now enables Ecu Line to complete its service offerings, both in terms of global capabilities and coverage,” Allcargo said in a statement. “The acquisition also increases Ecu Line’s foothold in the U.S. market, which will facilitate growth into and out of the U.S. market and rest of the world, being the largest economy in the world.”
The company did not disclose further details of the deal.
Econocaribe, which has nine office locations and 22 receiving terminals across North America, had been handling Ecu Line’s shipments as an agent for the past six years. Allcargo took full ownership of Antwerp-based freight forwarder Ecu Line in 2007.
Mumbai-based Allcargo operates container freight stations at Jawaharlal Nehru (Nhava Sheva), Chennai and Mundra, India’s leading container ports, as well as inland container depots at Indore, Kheda, Pithampur and Dadri. The company’s activities include warehousing, ship-owning and trucking.