THE WHAT? Japanese logistics giant Sagawa has purchased its Chinese competitor, Shanghai Runbow Logistics and Technology, according to a report published by the Nikkei Asian Review.
THE DETAILS Sagawa will purchase a 70 percent stake in the Chinese firm for a sum thought to stretch in to the several billion yen territory, per Nikkei Asian Review. The deal is expected to close by the end of March.
THE WHY? Through this acquisition, Sagawa will be able to leverage Runbow’s shipping network to win contracts from cosmetics companies as well as boost profitability through efficiencies realised through its expertise in warehouse management and streamlining.