Major Turkish logistics firm in talks to acquire 3 companies abroad

DAILY SABAH
ISTANBUL
Published 05.02.2019 00:07

With the investments it has made in recent years, Netlog has managed to become one of the major logistics companies in the region. It has now expanded its target and is poised to grow with new acquisitions abroad besides its ongoing investments in Turkey.

Accordingly, Netlog is currently conducting purchasing negotiations with three companies in Europe, the U.S. and the Balkans in line with its global growth strategies, according to the company's Vice President Gökalp Çak.

The goal, Çak said, is to turn Netlog into a Turkish company with a turnover of $2 billion in the near and medium term.

"In this context, 2019 will be one of the years of historical importance for Netlog. We are currently negotiating to buy one of the largest logistics companies in the Balkans. In addition, we are in contact with companies in Europe and the U.S., which we see as the heart of logistics in the world. We will strengthen the presence of Netlog in the world with the right companies that will fit our strategies," Çak noted.

The logistics firm made its first acquisition abroad in 2014, according to the firm's vice president, who said that the company made two serious purchases in Europe in the said period.

"After incorporating Dutch TNT Fashion and Belgian Belspeed companies to Netlog, we merged these two under the Bleckmann brand, which was established in 1862. Until this year, we had a 50 percent share in Bleckmann. Now we have expanded our share and became the main shareholder of the company," Çak noted.

In 2017, the Abraaj Group, a private equity firm operating in growing markets in Africa, Latin America, the Middle East and Asia, partnered up with Netlog.

Netlog left behind a successful year and reached the highest turnover and export figures in its history, Çak continued. "Starting in 2004 with 13 rigs, 13 drivers and eight employees, Netlog reached more than TL 4 billion in turnover in 2018; in this turnover, the company realized service exports worth $460 million. Today, the number of employees in domestic and overseas operations stands at over 10,000."

Çak indicated that from the first day, their aim has been to create a world brand in logistics. He said the firm is among the major companies in Turkey, noting that there is a long road ahead and that for this, growing in markets abroad is of critical importance. "Our goal in the medium term is to create a Netlog with 20,000-25,000 employees and an annual turnover of $2 billion-$3 billion," Çak concluded.

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