News / November M&A deals see logistics firms boosting scale and specialisation

© Juli Wirantono |

November recorded another active month in global logistics M&A, with consolidation spanning freight forwarding, temperature-controlled storage, specialised transport, ecommerce fulfilment, and regional express networks.

Activity remained broad across Europe, Asia, and the Americas, reflecting sustained confidence in logistics as operators continued expanding geographic coverage, technical capability, and digital infrastructure.

Specialised logistics was a key focus area. Kuehne+Nagel’s planned acquisition of Eastway Global Forwarding strengthens its aerospace logistics platform by adding AOG, engine logistics, and aviation warehousing capabilities; and the integration supports K+N’s strategy to grow in a technically demanding sector with high service-criticality.

Temperature-controlled logistics continued to consolidate, led by Constellation Cold Logistics. The company acquired JN-Spedition East’s main cold store in Køge, Denmark, adding 20,000 pallet positions and improving access to the Greater Copenhagen region. A second transaction in the Netherlands saw the acquisition of Lau van Haren Cold Stores, expanding frozen storage capacity and adding blast-freezing and repacking services. Both moves underline the demand for high-quality cold chain infrastructure across Northern Europe.

Ecommerce and last-mile logistics remained strong investment themes. Jayud Global Logistics acquired a controlling 52% stake in the Longgang Cross-Border E-Commerce Center in Shenzhen, enhancing bonded logistics, container processing, and real-time tracking in a major ecommerce hub. Austrian Post agreed to acquire 70% of euShipments.com, strengthening its South-east Europe logistics footprint and expanding its cross-border delivery and fulfilment capabilities. In the UK, QLS acquired J&J Global Fulfilment, Europe’s largest independent ecommerce fulfilment provider, adding rapid scale and a cloud-based technology platform capable of supporting accelerated international growth. Separately, Apex Logistics (Kuehne+Nagel) moved to acquire a majority stake in Andes Integración Logística, significantly expanding its Latin American coverage and strengthening its perishables and cold chain profile across seven countries.

North American transport and 3PL operators continued to pursue regional density and modal diversification. BlueGrace Logistics acquired STB Freight Group, strengthening its Midwest footprint and adding managed transport capabilities across retail, food, automotive, and aerospace. Page Trucking moved to acquire Goulet Trucking, expanding hazardous and non-hazardous bulk transport capacity across the US and Canada through a combined fleet of 500 trucks and 1,500 trailers.

Private equity activity remained evident, with Wind Point Partners acquiring Buske Logistics, a major US warehousing and CPG/food distribution platform operating 7m sq ft across 37 sites.

Automation and handling technologies were another strategic priority. Jungheinrich, via Storage Solutions, acquired US systems integrator Invar, adding WES software, design, simulation and project execution capabilities. The deal reinforces its automation offering and supports its North American expansion strategy.

Network-driven consolidation remained active in Europe and Asia. Katoen Natie acquired 80% of Bils-Deroo Solutions, a €150m regional logistics and transport group with 21 sites and 1,500 staff, strengthening its warehousing, intralogistics, and transport activities. CER Cargo Group acquired Austrian rail operator WLC, enhancing its presence in Austria and Germany. CMA CGM agreed to acquire a 20% stake in Eurogate Container Terminal Hamburg, aligning with its strategy to expand terminal capacity ahead of the port’s Western Expansion project.

One of the month’s most notable road transport transactions was Jacky Perrenot entering negotiations to acquire Vos Logistics, a €400m European operator with 35 branches across six countries. The deal aligns with Perrenot’s ambition to reach €2bn revenue by 2027 and strengthens its European B2B logistics capabilities.

In hazardous and chemical transport, Oxalis Logistics UK entered chemical bulk liquid logistics through its majority acquisition of Dennis Dixon, while The Integration Group expanded its regulated logistics capabilities by acquiring North American Warehousing Co, adding hazardous materials handling, blending, and specialised warehousing. LRT Group’s acquisition of Xpress Global Systems broadened its US reach in specialised LTL for oversized freight and the flooring sector.

Last month’s M&A activity reflected an industry deepening specialisation while building scale in cold chain, ecommerce fulfilment, international express transport, and automation-enhanced warehousing. The sector continues to position for resilience, network optimisation, and digital enablement as it moves into 2026.

With thanks to Transport Intelligence