Hong Kong Kerry Logistics Network Limited (Kerry Logistics) has acquired a majority stake in Turkey’s Asav Lojistik Hizmetleri Anonim Sirketi (‘ASAV’).
Kerry Logistics Network Limited, member of Kuokgroup, is involved in integrated logistics, international freight forwarding, express, supply chain solutions, seaport management and operations as well as insurance brokerage. The company works under two master brands; Kerry Logistics which is Asia’s premier logistics service provider with extensive operations across the globe, and Kerry Express which is uniquely positioned in the world’s fastest growing region, offering last-mile delivery to customers. Kerry Logistics, which is listed on the Main Board of the Hong Kong Stock Exchange, has more than 47,000 employees, operates from more than 700 locations in 55 countries, and has a fleet of more than 8,000 lorries.
Founded in 1994 in Turkey, ASAV was ranked No. 1 in Turkey’s Top 5 Agents by tonnage flown, according to 2017 and 2018 yearly IATA rankings, offering professional air, ocean and road freight to the market. ASAV has seven offices across the country, including five in Istanbul, one in Bursa and one in Izmir as well as one in Amsterdam in the Netherlands. It also has a warehouse of 452,000 sq ft in Istanbul combining bonded and non-bonded storage areas plus a bonded warehouse of 21,500 sq ft in Amsterdam.
Mathieu Biron, the Managing Director of Global Freight Forwarding of Kerry Logistics, said, “We are excited to work with ASAV, a young, dynamic and highly professional team, to tap into the business potential of a promising market and create greater synergy with the diverse mix of customers it brings. The partnership is poised to significantly boost our IFF capabilities in Turkey and enrich our resources in the Europe-Asia freight route, instrumental in helping us to further expand our IFF business worldwide.”
Melek Karabacak, the Vice Chairperson of ASAV, said, “For the past 25 years, ASAV has built a solid foundation and a rich customer portfolio in Turkey and the region. Joining Kerry Logistics is an exciting news for us. We are looking forward to combining our local and regional expertise with Kerry Logistics’ global network and extensive service offerings to support our ongoing development and provide a broader range of innovative solutions to our existing and future customers.”