Icelandic owner Eimskip has announced that it has acquired 90% of the forwarding company Extraco Internationale Expeditie in the Netherlands.
Extraco is headquartered near the port of Rotterdam and mainly provides reefer logistics services in the Netherlands and Europe. The company’s annual turnover is about EUR19m.
The management of Extraco will move into Eimskip’s office in Rotterdam to achieve synergies and will form a reefer logistics centre with the other Eimskip units including European Transport Services, Eimskip Reefer Logistics and Jac. Meisner.
Eimskip said the acquisition will allow the company to strengthen and diversify freight forwarding services in the Netherlands, and the deal is the first of several accretive acquisitions that Eimskip will be making in its core markets in the coming months.
“We welcome Extraco and all of its customers into the Eimskip group and know that the synergies, increased diversification and the valuable experience of Extraco’s employees will help us to further strengthen our forwarding operation in the Netherlands,” said Gylfi Sigfússon, president and ceo of Eimskip.