Allcargo Logistics Limited, through its wholly-owned subsidiary Ecuhold N.V., has acquired an additional 25% stake in ECU Worldwide (Japan) Limited. The acquisition was completed for a consideration of USD 550,000 on October 1, 2024. Following this transaction, Ecuhold N.V. now holds a 90% stake in ECU Worldwide Japan, expanding its footprint in the logistics and freight forwarding industry.
Expansion in Ocean Freight Forwarding Industry
The acquisition of ECU Worldwide Japan is part of Allcargo Logistics’ strategy to expand its Full Container Load (FCL) and Less than Container Load (LCL) businesses. With a synergistic and capable partner, this move aims to bolster Allcargo’s position in an important market and enhance its logistics services in ocean freight forwarding.
Details of ECU Worldwide Japan
ECU Worldwide Japan operates in the logistics sector, specifically in ocean freight forwarding, handling inbound and outbound freight across multiple global destinations. The company’s turnover as of December 31, 2023, stands at JPY 41,744.33 million. Over the last three years, the company has shown the following turnover:
- 2021: JPY 44,674.64 million
- 2022: JPY 53,781.15 million
- 2023: JPY 41,744.34 million
About the Transaction
This acquisition does not fall within the related party transactions, and it is conducted at arm’s length. The purchase was executed in cash, and there are no additional governmental or regulatory approvals required, as the transaction is compliant with local regulations.
