Panalpina World Transport has confirmed that it is to acquire a majority stake in Kenya’s second-largest air freight forwarder, Airflo.
The shares are to be acquired, subject to regulatory approvals, from Dutch Flower Group (DFG) as the result of a deal struck last week.
Airflo specialies in the export of fresh cut flowers, plant cuttings and vegetables out of Kenya to markets including the Netherlands and the UK.
It handles the movement of up to 1,500 temperature-controlled shipments per week and more than 40,000 tons of freshly cut flowers every year.
“The acquisition of Airflo further expands our presence in Africa and makes us an important player in the Kenyan flower market,” observes Panalpina chief executive officer (CEO) Peter Ulber.
DFG’s CEO, Marco van Zijverden, notes: “Managing the cool chain for fresh cut flowers is a crucial component of our success. By going together with a strong global player such as Panalpina, we can ensure that all customers – growers, importers and retailers – will continue to receive the quality service that they are used to.”