SGL Group acquires Foppiani Shipping & Logistics

News by WCN Editorial

SGL Group ApS acquires Foppiani Shipping & Logistics, an Italian freight forwarder specialising in air and ocean services, aiming to establish a strategic presence in Italy.

SGL Group ApS yesterday announced that the company has signed an agreement to acquire 100% of the shares in Foppiani Shipping & Logistics, through its wholly-owned subsidiary Scan Global Logistics A/S.

The transaction is subject to anti-trust approval from Italian authorities, and closing is expected during Q2 2024.

Foppiani Shipping & Logistics is an Italian freight forwarder headquartered in Prato, specialising in air and ocean freight services for fashion, furniture, high-end Italian products and automotive sectors. Foppiani Shipping & Logistics generates yearly revenue of EUR 115m.

The acquisition of Foppiani Shipping & Logistics provides SGL Group with an operational platform in Italy which enables SGL Group to establish its strategic presence in Italy and gives SGL Group a strategic platform to scale the business and expand its global presence to the benefit of customers.

Most importantly, Foppiani Shipping & Logistics will bring additional human capital with comprehensive industry knowledge and niche experience; people with a perfect match to SGL Group’s DNA and culture.

The acquisition of Foppiani Shipping & Logistics is financed through the issue of new senior secured fixed-rate bonds.

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Business Mergers/Acquisitions/Restructuring News Foppiani Shipping & Logistics Scan Global Logistics SGL Group

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