MSC completes acquisition of French Freight Forwarder Clasquin

GENEVA : MSC and French freight forwarder Clasquin have agreed on the terms of an acquisition deal announced in December 2023 which will be completed by MSC subsidiary SAS Shipping Agencies Services Sàrl.

SAS will acquire a 42% stake in the French forwarder for an estimated $353m (€325m) from its chairman Yves Revol and private equity firm Olymp. The remaining shares will be picked up on the stock market.

Clasquin is a 40-year-old, mid-sized international freight forwarder and overseas logistics company and manages the flow of customer shipments along the transport and logistics chain between France and the rest over the world The company manages shipments both by land and sea to and from Asia- Pacific, North America, North Africa, and sub-Saharan Africa. The Lyon-based firm posted a 2023 turnover of $610.58m, down 35.9% on the previous 12 months, as markets normalised.

One potential area of synergy with MSC’s subsidiaries is likely to be in Africa, with Africa Global Logistics (AGL), formerly Bolloré Africa Logistics. Clasquin could offer AGL its international forwarding network for shipments to and from the continent.

Clasquin has experienced strong growth in Africa in recent years and is in the process of taking full control of its Morocco-based subsidiary, Timar, which is present in several African countries.

CMA CGM recently completed its acquisition of the global operations of Bollore Logistics, and the latest acquisition is one entry in a long list of container lines expanding their role along the supply chain by snapping up freight forwarders, regional companies, and even air logistics assets.