Global shipping and logistics provider GAC Group today announced the acquisition of the 30-year-old British multinational freight forwarding company, Benair Freight International Limited for £5.1 million.
Benair is a specialist in international land, sea and airfreight logistics providing comprehensive services and facilities, including a state-of-the-art temperature-controlled facility at Heathrow, London. The company was previously owned by Dart Group PLC, a distribution and aviation services group, and recently reported an excellent year of record sales and profits from growth in its air and sea freight business.
Terms of Acquisition
Under the terms of acquisition, GAC acquired all of Benair’s six offices in the United Kingdom (UK) and Singapore in a transaction which will significantly strengthen GAC’s foothold in Europe and the Far East. All Benair’s operations, which include five offices in the UK, in Heathrow, Manchester, East Midlands, Newcastle, and Bournemouth, will be rebranded as GAC-Benair to reflect the ownership change.
Lars Säfverström, Group President of GAC, said the acquisition reinforced GAC’s commitment to the UK market and to being “wherever our customers go”. He said that the UK market is an important and strategic link with huge potential for both inbound and outbound freight, as well as a growing market for road and rail transportation.
Benefits of the Acquisition
Mr Säfverström said that customers and staff of both GAC and Benair will have extended market reach, gained from GAC’s global presence in 200 worldwide offices and the addition of Benair’s strong links in markets in the UK and Far East. With two-way trade between the UK and the Middle East already worth over £25 billion annually, the new acquisition also adds significantly to GAC’s capacity for facilitating the increased movement of goods into and out of the regional market.
Current Benair customers would also gain access to a wider range of logistics services offered by GAC and more competitive freight purchasing.
“We have been GAC’s partner for the past five years,” said Mr Dennis Mead, Benair’s Managing Director, “During our collaboration, it has become abundantly clear a closer relationship with GAC would add strength to our operations and deliver added benefits to our customers.” Mr Mead will also continue his leadership of the offices.
The acquisition is expected to generate efficiencies through the consolidation of marketing, accounting and insurance operations and shared information technology platforms.
Mr. Säfverström added that both companies shared a strong commitment to developing long-term personal relationships among customers and staff. Such shared service values would ensure stability and an ongoing commitment to high service standards to Benair’s customers from staff at all levels of the company
About GAC Group
The GAC Group (GAC) is the world's largest independent shipping, logistics and marine services provider, with over 200 offices worldwide.
Established in 1956, GAC's core business covers three key areas - shipping, logistics and marine services. The GAC reflects value for money, quality, continuity, innovation and global reach.
GAC employs more than 6,000 people worldwide. The GAC Group corporate head office is in Dubai, in the United Arab Emirates.
About GAC Logistics
GAC Logistics specialises in a full range of supply chain and logistics solutions. These include air and seafreight, warehousing and distribution, road transportation, project logistics, ship spares logistics, and international moving and courier services.
GAC Logistics operates an integrated worldwide network, serving international manufacturers, distributors and retailers from the fast moving consumer goods (FMCG), textiles, pharmaceutical, automotive, electronics, entertainment, as well as oil and gas industries.
About Benair Freight International
Benair Freight International Limited is a wholly owned subsidiary of Dart Group PLC, a distribution and aviation services group. Established for over 30 years, Benair specialises in providing a professional, competitive international freight forwarding service. In addition to the import and export of thousands of tonnes of freight each year, Benair has specialised departments dedicated to moving critical and urgent shipments such as perishable goods, aircraft spares and outsize items.
