Kerry Logistics Network is to acquire French BBA to further expand its global international freight operations.
In today's announcement, Kerry Logistics Network reveals its acquisition of the majority stake in Business By Air SAS ("BBA"), a leading international freight company based in France. This move aims to solidify Kerry's position in Europe, the Middle East, and Africa while enhancing its global freight capabilities.
Kerry Logistics Network, headquartered in Hong Kong, China, serves as a prominent international third-party logistics service provider with a foundation in Asia. It is formerly known as Kerry Warehouse (Hong Kong) Limited, established by the Malaysian Kuok Group in 1981. Today the company's extensive global network spans 59 countries across six continents. Providing end-to-end supply chain solutions, Kerry's core operations include comprehensive logistics, international freight forwarding, e-commerce, express services, industrial project logistics, and infrastructure investment. With a 2022 annual revenue surpassing HKD 86.6 billion, Kerry Logistics is the largest international logistics company listed on the Hong Kong Stock Exchange.
BBA, the freight company Kerry Logistics set to acquire, was founded in 1978. Headquartered in Tours, France, the company also establishes offices in Orleans, Nice, Le Havre, and Pointe-à-Pitre on Guadeloupe Island. As an upstream supply chain specialist, BBA offers airfreight services to industrial clients in diverse sectors such as automotive, aerospace, and pharmaceuticals. Additionally, BBA provides comprehensive supply chain solutions, encompassing express services, project cargo, as well as logistics for art, perishable goods, and personal items. Notably, BBA has been acting as Kerry Logistics Network's agent in France since 2016.
Given that France is one of the major destinations for global exports, and that BBA has extensive operational experience in Africa, this acquisition will mark a crucial step for Kerry Logistics in consolidating its French market and improving its layouts in Europe, the Middle East, and Africa. Zhang Bingquan, President of Kerry Logistics Network, expresses anticipation for synergies between Kerry's maritime capabilities and BBA's expertise in airfreight, which will significantly upgrade their international operations. In the future, the company may explore further into overseas markets.