Yusen Logistics has extended its business in Central Eastern Europe with the acquisition of Tibbett Logistics.
The Japanese company has reached agreement to acquire Tibbett, which is a wholly owned subsidiary of UK-based Keswick Enterprises Group.
No financial figure of the deal has been announced and the acquisition is subject to regulatory approval by the Romanian authorities.
Tibbett was established in Romania in 2010, and has grown in contract logistics, warehousing, transport and intermodal sectors.
It has a head office in Bucharest and 15 strategic locations nationwide, the company controls over 116,000 square metres of warehousing and employs more than 1300 people.
In addition, Tibbett also manages the Bucharest International Rail Freight Container Terminal (BIRFT). The company is offering services in multiple major market sectors, but with a particularly strong position within the retail and automotive industries.
Yusen says the acquisition provides it with access and insight into the Romanian market as well as a well-established regional network of warehousing, intermodal and trucking operations run by an excellent team of professionals in Romania.
This it explains will allow current and potential customers to benefit directly from comprehensive high-quality logistics services for their current and future opportunities in this fast-growing region.
Yusen Logistics Europe CRO, Shoji Murakami says: “We are very pleased to reach this milestone agreement that provides us with both critical mass and insight in the Romanian market. These advantages will give Yusen Logistics the right tools to increase our activities and to optimally serve our customers in this key region.
“Moreover, our customers will benefit by receiving logistical solutions for their opportunities in this attractive market. We are therefore also delighted to welcome our new colleagues in Romania and look forward to our cooperation.”