Kerry Logistics recently announced its acquisition of a majority stake in Turkey’s Asav Lojistik Hizmetleri Anonim Sirketi to further the expansion of its global network and strengthen its international freight forwarding capabilities.

The Hong Kong-based logistics firm said building upon ASAV’s competitive advantages of established operations and a diversified mix of domestic and international customers, the acquisition will help Kerry Logistics to gain a major foothold in Turkey and further consolidate its network and capabilities in the region.

ASAV, founded in 1994, 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.

It 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.

 Expanding international freight forwarding business

“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 international freight forwarding business worldwide,” said Mathieu Biron, managing director - global freight forwarding of Kerry Logistics.

Melek Karabacak, vice-chairperson of ASAV, said the Turkish freighter has built a solid foundation and a rich customer portfolio in Turkey and the region. 

Taking into account the positive profit growth and expansion potential in the international freight forwarding division, Kerry Logistics said it will continue to focus on expanding its IFF business both organically and through mergers and acquisitions.