CEVA Logistics has announced the acquisition of African logistics provider, Spedag Interfreight, as the company further advances through its global growth strategy.
CEVA Logistics’ ambition is to make the African market account for a significant share of its revenue by 2025, and the acquisition of Spedag Interfreight is expected to open new opportunities to the company’s growth in East Africa.
CEVA CEO, Mathieu Friedberg, said the company was making great progress through its recent acquisitions in Africa during the last few years.
“With the addition of Spedag Interfreight in East Africa, we are continuing to execute key regional initiatives in our strategic growth plan,” he said.
“This acquisition is the perfect follow-on to our organic growth and M&A activity in Africa over the past two years, as well as the recent acquisitions of Ingram Micro CLS and Colis Privé.
“Our global scale allows us to offer a wide range of responsive logistics solutions thanks to our experienced local teams.”
According to CEVA, approximately 400 employees have joined the company as a result of the transaction’s closing.
CEVA Logistics is now present in 44 countries in Africa.
In other news, CEVA Logistics has signed a three-year contract with Volkswagen Group (VW).