Commentary Economy

Turkish logistic giant to secure several European companies

Turkey’s largest logistics and distributor firm Netlog Lojistik Hizmetleri AS is looking to purchase seven of the largest logistics companies in Europe, including Poland, in the next two years.

Netlog is expected to spend EUR 350 mln on the investments, although the majority of the investments will be financed through loans, claims the company’s deputy head Gokalp Cak. 

The newly signed deals will give Netlog profits amounting to 1.9 bln USD.

“We are interested in purchasing companies in the UK, Belgium, Germany, Poland and the Netherlands,” Cak explained, adding that the company plans to buy out one of the Polish leaders in the logistics sector in the next couple of months.

Netlog, established in 2004, is carrying out an aggressive strategy of development and is the owner of 32 companies and 14 brands in Turkey itself. In 2014, Netlog and Belgian Belspeed SA purchased the Dutch TNT Express NV fashion companies.

Cak underlined that Netlog “may consider” the sale of stocks or partnership with another company when it reaches its target size and net worth.

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