The Hong Kong-based third-party logistics provider told analysts on a conference call it plans to acquire a 51 percent stake in an unnamed U.S. freight forwarder within two months, according to a report from the Jefferies Group.
Kerry Logistics has plans to complete the acquisition of a 51 percent stake in an unnamed U.S.-based freight forwarder within two months, according to a report by investment bank the Jefferies Group.
Esme Pau, an equity analyst, said Hong Kong-based Kerry announced the acquisition during a conference call with analysts. “The target has a good growth profile and is expected to contributed to International Freight Forwarding earnings in 2016,” the company said, according to Pau.
The report said Kerry has also identified acquisition targets for its express business in Singapore, the Philippines and Indonesia.
Jefferies said it is maintaining a positive view of the company based on structural growth of logistics demand in China and countries in Southeast Asia.
Report: Kerry Logistics plans to buy U.S. forwarder
