PSA International has moved swiftly to expand its new cargo solutions arm with the acquisition of a majority stake in a Turkish logistics company.
The Singapore container terminal operator has agreed to acquire 75% of the shares of privately held ALISAN Logistics.
The Turkish company is described as being active in fast moving consumer goods, chemicals, automotive industries and agro business.
“We strongly believe in the long-term growth potential of Turkey and this investment reaffirms our strategic focus in extending PSA’s network and capabilities to serve cargo owners,” said PSA Group chief executive Tan Chong Meng.
“Leveraging PSA BDP and ALISAN’s combined and complementary strengths, we will offer our partners and customers comprehensive end-to-end contract logistics and transportation service offerings in Turkey…enabling smoother, more resilient and sustainable trade.”
ALISAN vice president Banu Damla Alisan said the deal was the “biggest step forward” in the Istanbul-headquartered company’s 38-year history.
“This acquisition is a best-fit for both companies and specifically for ALISAN as it means the accomplishment of our future growth strategy,” she said.
“It is a new chapter enabling us to move forward and progress our services and operations on a much wider global scale and strength for our customers.
“We have been a globally known brand of Turkey and now we embrace the next step towards becoming a global player with the experience, knowledge and presence of PSA with us.”
ALISAN, which employs more than 1,600 people, provides international and domestic packed distribution, bulk liquid and dry bulk distribution, warehouse operations and value-added services amongst its services.
PSA International said it will benefit from ALISAN’s strong presence in Turkey with its “local expertise in contract logistics and domestic distribution”.
The transaction is subject to formal approvals by the relevant authorities and other customary closing conditions.
In March this year, PSA International announced it had restructured itself into two core businesses of ports and cargo solutions.
The state-owned group said the move was in line with its long-term strategy and that its new mid-mile logistics would be its “unique service differentiator”.
It is just over a year ago that PSA International completed its acquisition of supply chain, transportation and logistics solutions provider BDP International from New York-based private equity firm Greenbriar Equity Group.
PSA International said at the time that BDP’s acquisition adds “strength and depth to its logistics and supply chain offerings beyond the port”.
The Singapore state-owned terminal operator controls more than 60 deepsea, rail and inland terminals across 42 countries, according to its website.
