132-year old Japanese logistics company enters Romanian market

Japanese company Yusen Logistics has acquired Tibbett Logistics Romania, one of the largest companies in the local logistics market, from English group Keswick Enterprises. The transaction value was not made public. Tibbett Logistics provides logistics and warehousing services in Romania and the neighboring countries in Southeastern Europe. It also owns 15 strategic locations in Romania, leases warehouses with an area of over 116,000 sqm, and has 1,300 employees. The company had a turnover of EUR 25.3 million last year and has recorded an annual growth of 11.5% in the last five years. The Keswick Group entered the freight transport market in 2005 and set up Tibbett Logistics in 2010 after buying the stake of the other shareholder. Tibbett Logistics will be part of the European division of the Japanese company once the deal is completed. Yusen Logistics is part of Nippon Yusen Kabushiki Kaisha (NYK), a company founded in 1885 and one of the largest carriers in the world. editor@romania-insider.com (photo source: Tibbettlogistics.com)