MSC's subsidiary SAS Shipping Agencies Services Sàrl is set to acquire a 42% stake in the French freight forwarder Clasquin for approximately $353 million. The acquisition, agreed upon in December 2023, will see SAS purchasing shares from Clasquin's chairman and a private equity firm, with plans to obtain the remaining shares through the stock market. Clasquin, established over 40 years ago, specializes in international freight forwarding and logistics, facilitating global shipments across various regions including Asia-Pacific, North America, and Africa.
Clasquin, headquartered in Lyon, France, reported a turnover of $610.58 million in 2023, reflecting a 35.9% decrease compared to the previous year, as market conditions normalized. The company’s significant experience and growth in the African market, particularly through its Morocco-based subsidiary Timar, align with MSC’s strategic interests, especially considering MSC’s presence in Africa through Africa Global Logistics (AGL).
The acquisition aligns with the broader trend of major container lines expanding their supply chain services by acquiring freight forwarders and logistics companies. This strategy enhances their comprehensive service offerings and strengthens their global logistics networks. MSC’s acquisition of Clasquin is part of this ongoing industry trend, exemplified by similar moves like CMA CGM’s acquisition of Bollore Logistics, aiming to enhance their end-to-end logistics capabilities.