OTS Logistics Group has expanded its global coverage by signing a Sale & Purchase agreement to acquire the Confreight Group.
The agreement with the predominantly European neutral ocean freight consolidator will give Vanguard an immediate and significant presence in Belgium, France, Germany, Holland, Italy, Poland, Spain, the UK and other European countries.
OTS Logistics Group chairman Owen Glenn said that the signing of the agreement is a logical move for the group’s expansion plans.
“We acquired significant businesses in Asia-Pacific, particularly in China, in 2005 as part of our growth strategy,” said Glenn. “This agreement is a continuation of our global expansion strategy, and we will move to immediately establish our Vanguard brand in Europe.”
According to global chief operating officer Charles Brennan, the Group spent almost eighteen months vetting a number of possible target companies prior to engaging with the Confreight Group.
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