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To Strengthen Its Position in EMEA and Global IFF Capabilities
HONG KONG SAR - Media OutReach Newswire - 5 March 2024 - Kerry Logistics Network Limited ('Kerry Logistics Network', 'KLN'; Stock Code 0636.HK) announced the acquisition of a majority stake in Business By Air SAS ('BBA'), a leading French international freight forwarding company, to strengthen KLN's position in the EMEA region and international freight forwarding ('IFF') capabilities across the globe.
An upstream supply chain specialist in air freight services for diverse industrial clients in verticals including automotive, aerospace and pharmaceutical, as well as an established player in the African market, BBA has been acting as KLN's agent in France since 2016. In addition to multimodal freight forwarding, customs clearance and nationwide trucking, BBA also offers a complete suite of supply chain solutions covering express, on board couriers, project cargo, as well as logistics for fine arts, perishables and personal effects.
Vic Cheung, Group Managing Director of Kerry Logistics Network, said, "We are pleased to welcome BBA to KLN's global network. The acquisition is a natural progression in our strategic pursuit of enhancing our IFF service offerings in the EMEA region. With France's position as one of the world's top exporting countries, the addition of BBA will significantly strengthen our foothold in the country. We are looking forward to the synergies created between KLN's ocean freight capabilities and BBA's air freight expertise, and the extension of our service into the niche verticals of fine arts and perishables, which will further boost our global coverage and competency to offer comprehensive and flexible solutions to customers."
BBA was founded in 1978 and headquartered in Roissy-en-France, with four other offices in Orly, Nice & Le Havre, as well as an office in Pointe-à-Pitre, Guadeloupe.Hashtag: #KerryLogisticsNetwork
The issuer is solely responsible for the content of this announcement.
About Kerry Logistics Network Limited (Stock Code 0636.HK)
Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and extensive coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal) and e-commerce to industrial project logistics and infrastructure investment.
With a global presence across 60 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world's emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.
Kerry Logistics Network generated a revenue of over HK$86.6 billion in 2022. It is listed on the Hong Kong Stock Exchange and is a constituent of the Hang Seng Corporate Sustainability Benchmark Index.
About Business By Air SAS
BBA was founded in 1978 as a French-based air freight company, which has grown into providing air, sea, road and multimodal freight forwarding services to and from more than 100 countries. BBA has five branches, namely, the Paris CDG Airport, Paris Orly Airport, Port of Le Havre, Nice and Pointe à Pitre and designs dedicated door to door transportation plans. The company is AEO, ISO 9000 and ISO 14000 certified and possesses customs brokerage licences from e-commerce, perishables, general cargo to fine arts. BBA provides agility and flexibility to add competitive advantages to their clients' supply chain thanks to a solid client facing sales team.
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