Business, Feature, Forwarding, Freight News, Logistics

Danish buy to boost DSV Panalpina e-commerce capabilities

[ October 28, 2020   //   ]

DSV Panalpina has acquired Denmark-headquartered Prime Cargo from  Mitsui-Soko Group, including the forwarder’s activities in Denmark, Poland and China.

DSV said its new acquisition has a high degree of specialisation in selected verticals where it has little activity along with strong competencies in e-commerce and fashion retail with a fashion product in China.

DSV Panalpina said the company would be a perfect match for its Danish Solutions division and Air & Sea division, respectively. Prime Cargo’s customers will gain a global network and new services, and existing DSV customers will get access to strong capabilities in e-commerce and fashion retail:

Prime Cargo operates fully automated, state-of-the-art e-commerce warehouses, a technology that DSV is familiar with and recently installed in a new warehouse in Oslo. However, Prime Cargo’s competencies would allow DSV Panalpina to accelerate its e-commerce effort on a much larger scale.

Managing director, DSV Solutions, Denmark, Marcel Blomjous, said: “Prime Cargo in Denmark is a renowned and leading brand in e-commerce and fashion logistics. It fits perfectly into the strategic portfolio of our Danish DSV divisions. In e-commerce we will offer state-of-the-art competitive automated warehousing services with ambitious growth opportunities.”

Prime Cargo managing director, Morten Høilund, added: “We are proud that DSV Panalpina values Prime Cargo’s strong competencies within e-commerce and fashion and that these will act as cornerstones in the growth strategy for the Danish organisations. We believe the acquisition provides a unique opportunity to link our industry focus with DSV’s global network.”

The transaction is expected to complete within 2-3 months subject to customary conditions, including clearance by applicable competition authorities. Until then Prime Cargo and DSV Panalpina will conduct their businesses as usual and independently.