Panalpina’s recent acquisition spree picked up pace this week with a second trophy added on Sept. 28, this time in Germany, where the Switzerland-based logistics company agreed to buy Germany-based Cool Chain Group (CCG), from its parent company, Rungis Express.
With CCG added to the roster, Panalpina will gain an experienced team of employees and a growing German perishables business, with more than 100 corporate customers, representing around 14,000 tons of airfreight per year. CCG operates fully controlled cool chain logistics services at different temperature zones, ranging from -25° to +25°C.
The move represents a significant expansion of Panalpina’s perishables network in Germany and, by default, bolsters its broader European and global capabilities. “Our recent acquisitions in the perishables market have concentrated on the export side, but we also want to increase our footprint in key import markets and build our end-to-end perishables capabilities at major gateways such as Frankfurt and, as demonstrated yesterday, Amsterdam,” said Stefan Karlen, CEO of Panalpina. “These latest developments are further important steps towards offering complete end-to-end solutions on a global scale as we continue to expand our Perishables Network.”
CCG spent years establishing expertise in international airfreight and the import of perishables, such as fresh cut flowers, beans, fish, frozen sea food and fresh mangoes, mostly from Africa and Latin America. However, former parent company Rungis Express chose to divest of its subsidiary, in order to focus on “overland distribution and the wholesale of gourmet products.”
For Panalpina, the acquisition fits into a growing cold-chain portfolio, where margins are higher than they are with general freight.