Japanese freight forwarder, Nippon Express, has bought out fashion logistics firm, Traconf in a deal reported to be worth nearly €150 million.
Nippon Express is aiming to build its network and experience in fashion logistics with the takeover.
The company stated: “By providing the logistics-centric supply chain solutions throughout the world, Nippon Express Group aims to be a “Truly Global Logistics Company” that can contribute to the global development of all kinds of customers.”
As one of the key strategies to achieve this goal, the company is active in making intensive investments outside Japan to enhance its network in various regions and business areas with high growth potential.
In 2013, the company acquired Franco Vago, a Firenze-based forwarding service provider in the apparel industry mainly focused on high-end fashion brands, and as a result established a high quality logistics platform in the apparel sector.