EV Cargo, a Hong Kong headquartered global freight forwarding and supply chain services company, has announced, 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.”