Eimskip buys majority stake in Danish logistics company SHIP-LOG
15th June 2017
Iceland based Eimskip has continued its international expansion path with the acquisition of a majority share in SHIP-LOG, a freight forwarding company located in Aarhus, Denmark.
Months after picking up Belgium based Mareco (acquisition of 80% of the shares) and US based CSI Group (51% stake), Eimskip has closed its third deal of 2017. The bolt on of SHIP-LOG strengthens the firm’s market share in the segment of logistics services for refrigerated cargo – a fast growing industry globally on the back of increasing food trade and the rise of the middle class in large emerging economies, among others. SHIP-LOG serves both import and export customers through a network of representative offices in more than 120 countries, generating an annual revenue of about €17 million, and holds strong positions in particularly the food and pharmaceutical industries.
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