Scan Global Logistics (SGL) has finalized its acquisition of Foppiani Shipping & Logistics, an Italian freight forwarder, following approval from Italian competition authorities.
Based in Prato, Foppiani boasts an annual revenue of €115 million, employing over 160 individuals and offering a diverse range of airfreight and ocean freight services.
Foppiani’s clientele primarily spans sectors such as fashion, retail, and automotive, with multiple locations across Italy and subsidiaries in Asia and the US.
This acquisition aligns with SGL’s strategic plan announced earlier this year, emphasizing growth in key markets through acquisitions.
Allan Melgaard, SGL’s global chief executive, expressed excitement over the acquisition, citing Italy’s strategic importance for SGL. Melgaard believes Foppiani will serve as an ideal platform for expanding business, both with existing and new clients.
SGL has steadily expanded its European presence in recent years, venturing into new markets such as Portugal, Romania, Switzerland, and Ukraine.
Foppiani’s strong market position is expected to bolster SGL’s foothold in Italy, facilitating further development in the Italian market and key trade routes.
SGL also anticipates synergies between Foppiani’s specialized airfreight solutions for the Italian fashion and retail industry and its existing offerings in the Trans-Atlantic trade.
Furthermore, Foppiani’s relationships with major Italian automotive manufacturers complement SGL’s solutions in the automotive special logistics sector.
Apart from Italy, Foppiani maintains offices in China, Hong Kong, Japan, Singapore, South Korea, and the US.
Enrico Rossi and Paolo Cavicchi, owners of Foppiani, expressed confidence in the acquisition, highlighting SGL’s shared values and global presence, which they believe will enhance customer service and reach.