SOUTH AFRICA – DSV Panalpina, a Danish transport and logistics company, has completed the acquisition of South African-based Globeflight Worldwide Express after the relevant competition authorities have approved the details in the agreement.
The deal was initially announced in December 2020.
The acquisition is consistent with DSV Panalpina’s global strategy of growth through acquisitions while at the same time being a strategically important step for DSV Panalpina to serve customers in the growing express and small parcel market in South Africa.
“The acquisition of Globeflight constitutes a great match for DSV in South Africa while at the same time tapping into our global M&A strategy. Both have a culture that is performance-driven and customer-centric and the client fit is complementary and provides room to grow. DSV Panalpina’s courier business typically centres on larger clients, while Globeflight’s strength is in the express and small parcel market with a particular emphasis in the critical B2B market,” said Keith Pienaar, CEO, DSV Africa.
It both coincides with the substantial investments in infrastructure and transport management systems which enable increases in productivity and efficiency and the investments the group is making in building large-scale logistics facilities in Gauteng and the Western Cape.
“Together with our new colleagues from Globeflight, we enable further growth for the combined entity while we continue to strengthen our services in and commitment to South Africa. Therefore, I am incredibly pleased to be able to welcome the Globeflight organization to DSV Panalpina,” said Keith Pienaar.
The air and sea division, the largest division of DSV Panalpina, will be substantially strengthened with the acquisition of GIL and will consolidate the rank among the largest providers globally with close to 2.8 million containers (TEUs) and more than 1.6 million tonnes of air freight transported annually.