Kerry Logistics has completed its acquisition of Kerry Salvat Logistics S.A., its former Spanish joint venture. The Hong Kong-based 3PL has purchased the remaining shares of the venture from its partner Salvat Logistica, S.A. The companies did not disclose financial terms.
Kerry said that Spain has been a key market for it since 2005. Volumes have grown and its operations have served as a hub for Spanish customers to sell their goods in Asia.
Sebastian Bernardo, general manager of Kerry Logistics’ Spanish operations, said that facilitating the sale of Spanish goods in Asia has been a strong benefit for its customers as of late. “In light of the economic downturn in Spain, we are eager to help our customers to reach out to China and other Asian markets,” he said.
In Shanghai, Kerry has set up a dedicated Spanish division to support these Spanish brands and companies as they expand sales throughout China.
The company will continue to develop relationships within China, starting in Zhengzhou, in Henan province. Here Kerry is set to break ground on a 70,000-square-meter warehouse in the second quarter of 2012, with an expected completion of early 2013.
Zhengzhou bills itself as a key transit and tourist center for Henan Province and central China, and its growing economy is what led Kerry and many other 3PLs to invest there recently. — Geoff Whiting
Kerry Logistics invests in Spain-China
