Panther Logistics, a distribution firm, has been acquired by the global freight forwarding company, AIT Worldwide Logistics, for an undisclosed sum.
The acquisition will see AIT support Panther’s growth by financially facilitating the firm to invest in its operations and develop new service innovations to support its customers.
The deal will also extend AIT’s presence in the UK market, despite Panther continuing to operate as usual with its existing management team remaining in place.
Commercial director Gary McKelvey will take over as managing director, with Colin McCarthy supporting to ensure a smooth transition.
McCarthy said: “Becoming part of AIT’s expansive global network provides a springboard for further growth and investment.
“With the growth in online shopping continuing to escalate at unprecedented levels, the quality of delivery has become a key differentiator for many retailers and a major driver for consumers. Customer experience is therefore vital. Everything we do is designed with the end customer in mind and we aim to make delivery as easy and convenient as possible.”
Vaughn Moore, president and CEO at AIT, added that the deal was especially important due to the current expansion in online sales.
He said: “I’m looking forward to the results of blending subject matter experts between our two companies and building off each other’s best practices, particularly in the booming e-commerce space.”