Imperial Holdings has gained a foothold in Nigeria’s fast-growing logistics market with a $26 million acquisition of a 49 percent stake in MDS, Nigeria’s leading logistics provider.
This development has provided the group entry into the logistics sector of the fast growing Nigerian FMCG, telecommunications and pharmaceutical industries.
Marius Swanepoel, CEO, Imperial Logistics, said that the newest acquisition strengthens its logistics’ footprint in the continent as it is consistent with the company’s strategy of focusing on consumer opportunities and customer base on the continent.
“MDS has a quality customer base with a strong new business pipeline. Through the transaction, the group has also secured a specialist management team, which strengthens and complements the group’s existing skills set in the logistics business,” Swanepoel said.
On the group’s increasing footprint on Africa, Swanepoel said, “The acquisitions offer exceptional growth prospects, as they strengthen our current exposure to these high growth economies.”
Commenting on the rationale for the transaction, Larry Ettah, UACN’s Group MD/CEO, said, “we look forward to working together to engage the underserved and fast growing logistics market in Nigeria. We believe this transaction creates an outstanding opportunity to drive growth in MDS.
The combination of the company’s vital local experience and the value adding international logistics expertise of Imperial Logistics will lead to efficiencies and raise benchmarks in Nigeria for the benefit of all stakeholders.”
