DSV Panalpina acquires Prime Cargo
DSV Panalpina acquires Prime Cargo from Mitsui-Soko Group in Japan. The acquisition includes Prime Cargo’s activities in Denmark, Poland and China, the company said in its release.
DSV Panalpina acquires 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 renowned for its high degree of expertise within e-commerce. The company operates fully automated, state-of-the-art e-commerce 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 e-commerce 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.