Eimskip takes over Dutch logistics operation

Icelandic container line promises more acquisitions after Extraco deal.

Iceland’s Eimskip is taking a 90% stake in Dutch forwarding company Extraco Internationale Expeditie.

The container line said the acquisition strengthens its position in worldwide reefer logistics services.

Extraco, founded in 1991, is located close to the port of Rotterdam, with annual revenue of EUR 19m ($20.89m) and 19 staff.

The majority of the company’s current management team will stay on, owning a 10% share.

Extraco will move into Eimskip’s office in Rotterdam to achieve cost-savings and team up with other group companies like European Transport Services, Eimskip Reefer Logistics and Jac. Meisner.

The company said: “This is the first of several accretive acquisitions that Eimskip will be making in its core markets in the coming months.”

CEO Gylfi Sigfusson added: “We welcome Extraco and all of its customers into the Eimskip group and know that the synergies, increased diversification and the valuable experience of Extraco’s employees will help us to further strengthen our forwarding operation in the Netherlands.”