TOKYO, Mar. 16, 2018 /Kyodo JBN/ --
Nippon Express Co., Ltd.
Nippon Express Acquires Equity Interest
in Traconf S.r.l. (Turning It into Subsidiary)
Nippon Express Co., Ltd. (TSE: 9062, hereinafter the "Company") agreed with investors in Traconf S.r.l. headquartered in Verona, Italy (hereinafter "Traconf"), an apparel-related logistics service provider in the high-end fashion industry, and thereby executed a sale and purchase agreement (the "SPA") on March 6, 2018 (CET), to acquire the entire equity interest in Traconf through the subsidiary, Nippon Express Europe GmbH (the "Acquisition").
Purpose of the Acquisition
By providing logistics-centric supply chain solutions throughout the world, Nippon Express Group aims to be a "Truly Global Logistics Company" that can contribute to the global development of all kinds of customers. As one of the key strategies to achieve this goal, the Company is active in making intensive investments outside Japan to enhance its network in various regions and business areas with high growth potential. In 2013, the Company acquired Franco Vago S.p.A. (hereinafter "Franco Vago"), a Firenze-based forwarding service provider in the apparel industry mainly focused on high-end fashion brands, and as a result established a high-quality logistics platform in the apparel sector.
Traconf provides warehousing, distribution and other services for the fashion and lifestyle industries in Europe, mainly Italy, as well as the United States and China. Its key customer base comprises luxury fashion brands, like that of Franco Vago.
The Company believes that the Acquisition will help it grow its group’s fashion logistics business dramatically. Particularly, the combination of Traconf and Franco Vago will provide the Company with mutual access to the customers of both companies, and furthermore the ability of offering each customer nonstop integrated logistics services from international transportation and product warehousing to distribution to the markets. In terms of the Company’s geographic strategies, the complementary interaction of the two companies and the local bases of its group will create a global network beyond the European market, allowing it to provide high-quality services to customers worldwide as a leading distributer in the fashion logistics industry.
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The impact of the Acquisition on the consolidated performance of the Company for the fiscal year ending March 2018 will be minor.
Nippon Express website: http://www.nipponexpress.com/