Freight Panalpina completes acquisition of Air Connection
- The Boeing Company
International freight forwarding and logistics company Panalpina announced the completion of the acquisition of Air Connection, a specialized forwarder of flowers and vegetables following the approval by the Competition Authority of Kenya. The move follows Panalpina’s acquisition of Airflo in 2016 and positions the company as a clear market leader in perishables in Kenya.
Founded in 1993, Air Connection has operations close to Jomo Kenyatta International Airport in Nairobi and in Mombasa. The company specializes in the export of flowers and vegetables from Kenya to multiple destinations, including the Netherlands and the UK. The perishables business of Air Connection will be merged with Panalpina Airflo.
“The acquisition of Air Connection is another important step in building our Perishables Network. It further strengthens our existing global footprint and positions us as a clear market leader in perishables in Kenya,” says Stefan Karlen, CEO of Panalpina. “It will also allow us to develop our perishables presence in the neighboring countries of Tanzania and Uganda, where we see a lot of potential.”
Source © The Boeing Company