The World Cargo Alliance (WCA) has reached a formal agreement to acquire a majority interest in the rapidly growing Elite Global Logistics Network (EGLN).
EGLN, which was founded in 2015, has seen its membership around the world flourish to 332 members in 131 countries.
The acquisition by WCA will enable the network to move to the next stage of its development and provide member companies with increased opportunities for business expansion and organic growth.
Roy Stapleton will remain EGLN president and continue to set the network’s strategy as well as overseeing day-to-day operations.
He says: “This new agreement is unprecedented in the history of freight networks. EGLN is proud to become a part what we believe is a ‘win-win’ solution for our members and the network.”
“The suite of benefits evolved by WCA has allowed it to stand out as a networking leader, and EGLN members will benefit from these obvious synergies offered by this unique partnership.”
WCA chairman and founder, David Yokeum says 2018 will be an exciting year for EGLN following the formal commencement of the agreement on 1 January.
He says: “Roy has, over many years, built a deservedly strong reputation for providing independent forwarders with high quality environment in which members feel secure and confident that their business will grow.”
“EGLN will retain its unique ethos and management style, but by adding many of WCA’s valued benefits and attributes, alongside strong backroom and financial support, EGLN has the tools to embark on an exciting new phase in its development.”