DSV Panalpina completes the acquisition of South African-based Globeflight Worldwide Express after the relevant competition authorities have approved the details in the agreement. The deal was initially announced in December 2020.
Two years after the acquisition of Panalpina, DSV Panalpina is once again announcing a large acquisition: Agility Global Integrated Logistics (GIL). M&A is a well-known part of DSV Panalpina’s strategy and the company has demonstrated its ability many times in both acquiring and successfully integrating companies with similar business models. The value of the GIL acquisition is USD 4.2 billion.
DSV introduces three new intercontinental routes connecting five continents in order to accommodate customer demands in a global air freight market affected by lack of capacity due to the COVID-19 pandemic.