A logistics company is looking to expand its global footprint, with the acquisition of a UK startup CDS Logistics.
The Australian logistics giant said in a statement that it was in the process of finalising a deal with CDS to further expand its UK operations.
The company, which specialises in logistics, is based in South Africa and provides services in logistics and warehousing, logistics services, warehouse management and distribution.
The deal is expected to close in the first quarter of 2019.
A spokesperson for CDS said the deal was part of the company’s “strong strategy” to increase its presence, and added that it expected the move to strengthen its overall presence in both the UK and US markets.
The company is also looking to invest more in logistics in the future, with CFS Logistics and CDS Warehouse Management also looking at expanding their global presence.
According to a recent report by the CDS group, the firm is the fourth-largest logistics company in the world, and the third-largest in the US, behind US logistics firm Westinghouse and US logistics company Energomass.
Earlier this year, CFS was reported to have been looking to buy logistics company Apl Logistics to expand operations.
Apl Logistic’s US operations include warehousing and distribution, while CDS is focused on logistics and warehouse management.
With a value of $8.7 billion, Cds is the second-largest US logistics group behind Westinghouses.
CDS is the UK’s third-biggest logistics company after Westinghards, with an estimated revenue of $3.3 billion in 2018.
More to come.