DP World has completed the acquisition of Hong Kong-headquartered Cargo Services Far East Ltd, expanding into retail and fashion logistics.

Cargo Services employs more than 2,500 people in Greater China and across Asia, Europe, South Africa, and the US. Following the acquisition, DP World said it now has over 115,000 employees situated across 800 locations worldwide, and by the end of the year, it will operate more than 200 freight forwarding offices, covering up to 95% of global trade flows.

Founded in 1989, Cargo Services was one of the earliest foreign logistics service providers to enter the China market.

Over the decades, it has established an extensive portfolio of solutions such as origin purchase order management, ocean freight, air freight and warehousing for a diverse range of sectors.

This includes supply chain management services for retail and high-fashion customers in the US, UK, Europe, South Africa, Australia and New Zealand.

It has also expanded its portfolio to provide specialised cruise logistics services globally.

DP World noted that industries such as automotive, chemicals, healthcare, perishables, retail and technology require tailored logistics solutions, and the company is "strategically focused" on creating specialised offerings that address each sector's specific challenges and opportunities.

"Cargo Services' logistics expertise and global network perfectly complement our own footprint and will be yet another tool in our offering to customers. Together, we'll create a powerful force propelling trade globally," said Sultan Ahmed bin Sulayem, group chairman & chief executive officer of DP World.

"By combining our strengths — technology, a growing logistics portfolio and strategic infrastructure — with Cargo Services' expertise and network, we will be able to offer unparalleled value to customers seeking to strengthen existing trade ties or enter new markets," he added.

John Lau, group managing director of Cargo Services Group, said by joining DP World, the integrated global logistics solutions provider and international freight forwarder will gain access to extensive resources and expertise, allowing it to continue delivering top-tier freight-forwarding and logistics services.

"With a shared vision and strategy, I am confident that our respective teams will come together seamlessly to deliver growth," he added.

Full integration in the next few months

DP World said the acquisition process is officially complete, and full integration is planned over the next few months.

It noted that the combined team will combine all required resources to ensure a smooth integration process, prioritise operational continuity, and deliver to meet customers' needs.

To ensure a seamless transition, Lau will remain with the business and assume a senior leadership position within DP World.