On February 21, International Logistics Group Limited ("ILG"), a U.K. subsidiary of Yusen Logistics Co., Ltd., acquired Noel Topco Limited, a U.K.-based holding company of 10 companies, including Global Freight Solutions Limited ("GFS"), according to the company's release. The acquisition is part of the logistics business growth strategy outlined in the medium-term management plan announced by the NYK Group in March 2023. The acquisition realizes ambidextrous management, which aims for growth through the investment of profits from existing businesses in new ones.
ILG, which has been steadily expanding its business, specializes in fulfillment services for e-commerce businesses, from order receipt to delivery. The U.K. e-commerce market is in strong demand and is the third largest in the world after China and the U.S.
GFS, the operating company of Noel Topco Limited, provides platform services to manage and coordinate end-consumers, e-commerce retailers, fulfillment centers, and carriers for product delivery and returns, offering a wide range of delivery areas, dates, and rates to meet increasingly diverse and sophisticated customer needs.
The acquisition aims to add a new platform service to the NYK Group’s logistics business, thereby expanding services and differentiating the NYK Group from its competitors. The NYK Group aims to grow its business further by building a solid foundation in the e-commerce market, promising continual expansion.