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Expolanka acquires American logistics company

30 Aug 2021

  • Purchase 100% equity at $ 9.7 m
EFL Global Logistics (Pvt.) Ltd. of Singapore and EFL Global LLC of the US, two fully-owned subsidiaries of Expolanka Holdings, have acquired 100% equity interest of Idea Logistics LLC and its group of companies on 10 August 2021, Expolanka noted in a disclosure to the Colombo Stock Exchange (CSE) on Friday (27). The total purchase is a consideration of $ 9.7 million. Idea Logistics is a Central American logistics company headquartered in the US, servicing a range of US customers, offering freight forwarding, warehousing, and trucking services. The company noted that this acquisition is an important strategic initiative, enabling Expolanka to expand its operation into Central America, which is gaining popularity as an emerging and fast-growing apparel manufacturing hub, in relation to nearshoring strategies adopted by leading US customers.


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