DP World expands into retail logistics: DP World has fully acquired Hong Kong-based logistics firm Cargo Services Far East, expanding its global footprint to over 115k across 800 locations, according to a press release. Neither party put a price tag on the transaction, but Bloomberg suggested back in April that it would be in the USD 300-400 mn range.

Where it stands: The acquisition is complete, with plans for the “full integration” of Cargo Services into DP World’s portfolio set for the coming months. Cargo Services’ founder and managing director, John Lau, will stay on in a senior role “to ensure a seamless transition.”

We knew this was coming: DP world was reportedly finalizing the acquisition in April. EnterpriseAM Logistics first caught wind of the talks back in November, with sources at the time saying the transaction could be worth as much as USD 800 mn.

About Cargo Services: Founded in 1989, Cargo Services has offices in 35 cities in China, Singapore, Australia, South Africa, and the US, operating in cold chain logistics, ocean and freight shipping, and fashion distribution.

What’s in it for DP World? By year’s end, DP World will operate more than 200 freight forwarding offices with exposure to as much as 95% of global trade flows.

DP World is on an expansion spree, most recently creating a JV with Turkey’s Evyap Group to manage two major Turkish ports. The firm acquired in May Laos-based port operator Savan Logistics. In March, DP World inked an agreement with Brazil’s leading railway operator Rumo to build a new terminal for grains and fertilizers at Port Santos and said that it plans to develop a USD 50 mn logistics center in South Korea’s Busan New Port, slated to be operational by 2Q 2026.

OTHER M&A NEWS-

Silal snaps up majority stake in Al Bakrawe Holding: ADQ-backed agrofood tech company Silal acquired a majority stake in UAE-based produce distributor Al Bakrawe Holding for an undisclosed sum, according to a press release. The acquisition is set to boost Silal’s operations by merging Al Bakrawe’s global sourcing network with Silal’s local farm network, “allowing Silal to provide a broad basket of high-quality fruit and vegetable products all year round,” the statement said.

A string of acquisitions: Silal acquired stakes in UAE-based F&B distributor Safco International in October 2023 and Dubai-based pesticide distributor Sherwood.