cargo-partner becomes part of Nippon Express Group
cargo-partner’s turnover increased 14 percent to €2.06 billion in 2022 compared to 2021
As cargo-partner celebrates its 40th anniversary, founder Stefan Krauter has decided to sell the Austrian global logistics player to Nippon Express Holdings, which is also the parent company of Nippon Express, APC and Franco Vago.
"Having started operations in 1983 with only five employees at Vienna Airport and having developed the company almost completely organically to now 4,000 employees in 40 countries around the globe, Stefan Krauter had already passed on the baton to his management and now has also passed over ownership to his ideal successor," says an official release.
cargo-partner’s turnover increased 14 percent to €2.06 billion ($2.3 billion) in 2022 compared to 2021 when it had increased 72 percent YoY to over €1.8 billion.
“Leadership by agile founders bears some considerable advantages but from a certain stage on, highly professional and long-term stable ownership is the bigger asset," says Krauter. "It is the founders’ challenge and responsibility to decide about both management and ownership succession at the right time. Not too early to be able to build a stable internal management succession but, for sure, also not too late. That is why, together with the corporate executive board, we started evaluating different options for the future of cargo-partner.
“It would also have been a good option for the management and employees to continue going completely alone but since the ideal new strategic owner was found in NX Group, we were ultimately convinced that this was the right way to go forward. Following the integration policy we have seen from NX Group so far, cargo-partner will remain cargo-partner in regard to both organisation and branding – and it will become the strongest cargo-partner ever.”
The deal was signed on May 12, 2023 and will come into effect subject to the usual regulatory (antitrust and FDI) approvals in an estimated four to seven months. Nippon Express, a provider of logistics services based in Tokyo, has a strong global network that spans over 40 countries with direct operations in 33 nations, the release added.