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Kerry Logistics to buy US freight forwarder

Kerry Logistics to buy US freight forwarder


Kerry Logistics Network Ltd is preparing to expand its global network with the acquisition of a US freight forwarder, the company told analysts.

The Hong Kong-based company, which specialises in international freight forwarding and supply chain services in China and Southeast Asia, said in a conference call that it will acquire a 51 per cent stake of an unnamed American company, and will announce the acquisition in less than two months, according to a report by the Jefferies Group investment firm.

Kerry has also identified acquisition targets in Singapore, the Philippines and Indonesia, the report said.