International freight forwarding and logistics company Panalpina is to acquire a majority stake in Airflo, a company based in Kenya and the Netherlands specialized in the export handling of flowers and vegetables. Airflo is part of Dutch Flower Group (DFG). The acquisition reflects Panalpina’s continued expansion in Africa and its increasing focus on the perishables business.
Panalpina World Transport Ltd. will acquire a majority stake in Airflo from DFG, subject to conditions. The two companies reached a respective agreement on November 4, 2015.
Airflo is Kenya’s second largest air freight forwarder, specializing in the world-wide export of fresh cut flowers, plant cuttings and vegetables, with a focus on the Netherlands and the UK. The company employs a total of 167 staff in Nairobi and Aalsmeer. It organizes up to 1,500 temperature-controlled shipments per week from Kenya, totalling more than 40,000 tons of fresh cut flowers, especially roses, each year.
Source: DFG
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