News / NYK extends its logistics arm with takeover of UK’s Noel Topco

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29/02/2024

Japan’s NYK Group has moved further into the logistics sector, as have some rivals – its logistics unit, Yusen, has acquired UK logistics group Noel Topco, with subsidiaries including parcel delivery company Global Freight Solutions.

NYK, among ONE’s shareholders, said the takeover of Noel Topco from UK private equity firm Phoenix Equity Partners was part of its strategy to expand into the logistics sector. The purchase price was undisclosed.

It said: “The acquisition realises ambidextrous management, which aims for growth through the investment of profits from existing businesses in new ones.”

Yusen Logistics’ UK subsidiary, International Logistics Group (ILG), carried out the takeover and has been steadily expanding its business, specialising in fulfilment services for e-commerce businesses. The UK e-commerce market is growing and is the third-largest in the world, after China and the US.

Noel Topco’s operating company, Global Freight Solutions, provides platform services to manage end-consumers, e-commerce retailers, fulfilment centres and trucking companies for product delivery and returns.

GFS CEO Neil Cotty said: “The partnership and synergies with ILG and the wider group will help us realise our vision. It allows us to offer our B2B and B2C customers greater cost-benefits, unrivalled services, and expertise across every aspect of their supply chain, in every corner of the world.”

ILG chairman Mike Stephenson added: “This new and exciting acquisition greatly differentiates our offering to our fulfilment and delivery clients, and powers our expansion in the UK and international markets.”

NYK’s expansion into the logistics sphere mirrors several of its peers, MSC, Maersk and CMA CGM, which have acquired 3PL companies since the Covid-19 pandemic brought a windfall to the sector.

Last March, NYK acquired US 3PL Taylored Services to expand its US warehouse network.