High degree of specialisation within selected verticals where DSV has little activity
DSV Panalpina has acquired Prime Cargo, an international forwarding company which offers tailored freight, warehousing and logistics solutions. Prime Cargo is headquartered in Kolding, Denmark, but operates internationally and has activities in both Poland and China.
Prime Cargo is a company that DSV Panalpina has looked at with much respect for several years due to the Company’s high degree of specialisation within selected verticals where DSV Panalpina has little activity. With Prime Cargo’s strong competencies in the field of eCommerce and fashion retail, of which the current fashion product setup in China plays an important part, the Company is a perfect match for DSV Panalpina’s Danish Solutions division and Air & Sea division, respectively.
The acquisition of Prime Cargo offers new opportunities for both companies and their customers. Prime Cargo’s customers will benefit from a global network and new services, and existing DSV customers will get access to strong capabilities within e-commerce and fashion retail:
Prime Cargo is renowned for its high degree of expertise within eCommerce. The Company operates fully automated, state-of-the-art eCommerce warehouses, a technology that DSV is familiar with and recently installed in a new warehouse in Oslo, Norway. With Prime Cargo’s competencies onboard, DSV Panalpina and Prime Cargo will have the ability to accelerate the eCommerce effort on a much larger scale.
The transaction is expected to complete within 2-3 months subject to customary conditions, including clearance by applicable competition authorities. Until then Prime Cargo and DSV Panalpina will conduct their businesses as usual and independently.