Itella Group (formerly Finland Post Corp) will acquire National Logistic Company (NLC), a warehousing service provider operating in the Russian logistics market.
The €200 million deal will reinforce Itella Logistics’ position in Northern Europe and make it a one of the market leaders in the rapidly growing Russian logistics market, enabling Itella Logistics to provide logistics services throughout Russia via its extensive logistics centre network and transport connections.
The completion of the acquisition is subject to the approval of the Russian competition authorities.
NLC is one of the few operators in Russia with a comprehensive logistics centre network, covering not only Moscow but also six other major cities. NLC is experiencing intensive growth: at the end of this year, it will have some 600,000 m2 of warehousing space, including 230,000 m2 in its own premises.
In addition to warehousing, NLC provides transport and delivery services in Russia, which will be complemented by Itella Logistics’ comprehensive global land, sea and airfreight services.
Itella Logistics established its own service operations in Russia in 2006. Last year, the company opened a 20,000 m2 warehouse in Moscow, and this year it expanded its category A warehouse facilities in Moscow to 40,000 m2. The company will also open a new warehouse in St. Petersburg next month.
RosEvroGroup will continue as minority shareholders with a share of 10% in contract logistics, and will keep full control over customs clearance and brokerage business.
In other news, the Itella will offers its international transport services from May 1st, as a result of its February acquisition of Kauko Group Oy.
The €200 million deal will reinforce Itella Logistics’ position in Northern Europe and make it a one of the market leaders in the rapidly growing Russian logistics market, enabling Itella Logistics to provide logistics services throughout Russia via its extensive logistics centre network and transport connections.
The completion of the acquisition is subject to the approval of the Russian competition authorities.
NLC is one of the few operators in Russia with a comprehensive logistics centre network, covering not only Moscow but also six other major cities. NLC is experiencing intensive growth: at the end of this year, it will have some 600,000 m2 of warehousing space, including 230,000 m2 in its own premises.
In addition to warehousing, NLC provides transport and delivery services in Russia, which will be complemented by Itella Logistics’ comprehensive global land, sea and airfreight services.
Itella Logistics established its own service operations in Russia in 2006. Last year, the company opened a 20,000 m2 warehouse in Moscow, and this year it expanded its category A warehouse facilities in Moscow to 40,000 m2. The company will also open a new warehouse in St. Petersburg next month.
RosEvroGroup will continue as minority shareholders with a share of 10% in contract logistics, and will keep full control over customs clearance and brokerage business.
In other news, the Itella will offers its international transport services from May 1st, as a result of its February acquisition of Kauko Group Oy.