Middle East logistics provider Agility has signed a conditional agreement to acquire Cosa Freight, a full-service ocean freight forwarder with offices in six locations in China and presences in Hong Kong, the US and Canada.
The acquisition will further strengthen Agility's network capability in China and increase the range of services it offers in major trading and manufacturing centres across the country.
Cosa Freight is strong on trans-Pacific trade and provides full range of services to the retail sector, including origin consolidation/upstream inventory management programmes in China and warehousing, trans-loading and delivery in the US. With a staff size of more than 200, its network will be a significant addition to Agility's ability to offer quality service to its customers.
"We are committed to strengthening our network in China and other strategically important countries in the region as well as expanding our range of freight and logistics services throughout the country," said James Gagne, Chief Executive Officer, Greater China Area for Agility. "The acquisition of Cosa Freight will help us achieve those goals.
"Cosa Freight adds first-class capabilities to Agility in China and is an excellent fit to our existing network. Its ability to provide multi-country consolidation and value-added services, such as direct-to-store programmes for customers in the US will allow us to further strengthen our product offerings, Gagne said.
James Zhang, President of Cosa Freight, said: "The acquisition by Agility will enable Cosa Freight to expand on a global scale and focus on much greater growth opportunities. We already have a strong position in China and we will now be able to share and leverage Agility's global network and resources to improve our position and add further capability to serve Agility's customers in China."
Cosa Freight was established in Shenzhen in 1998 and is a licensed freight forwarder, providing local transportation throughout China, bonded warehousing, buyer consolidation services, international freight FCL/CFS services, customs clearance, documentation, inspection and insurance brokerage.
Cosa's value-added services include billing, cash
collection and banking, apart from kitting, packaging and repackaging and reverse logistics.
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