Agility buys out Danish forwarder, expands East Europe footprint

Global logistics firm Agility said today it has acquired the remaining 71 percent shareholding of Danish air and ocean freight forwarder CF Geologistics A/S. Financial details were withheld.

CF Geologistics has been acting as a joint venture partner and agent for Agility since 2004, with Agility having a 29 percent stake in the Copenhagen-based company. CF Geologistics has a dedicated staff of 17 and a strong customer base, especially in the chemical, pharmaceutical and technological industry sectors, Agility said. It will now be fully integrated into the Agility organization and will operate under the Agility brand.

We are fully integrating a well established and proven partner into the European region. This is perfectly in line with Agility Europe's dedicated growth strategy and further solidifies our presence in this important market that links the North of Europe to the rest of the world, said Chris Price, Agility's managing director of Area North Europe.

In a separate development, Agility has expanded its presence in Eastern Europe by registering its own subsidiary in Hungary. Agility Hungary is headed by Keith Mahoney, country manager, who leads a team of over 40 people. Previously, Agility worked in the country with agents Deltasped and Lagermax. 

Source: American Shipper