Delamode Group (“the Group”), a leading provider of international freight and logistics services, today announced that it has completed the sale of Pall-Ex, one of its wholly owned logistics subsidiary in Romania, specialising in domestic palletised distribution to Boldmind Capital.
The transaction, which has now closed, marks a further step in the Group’s strategy to concentrate resources and investment on its core markets and service lines.
Pall-Ex provides domestic distribution of palletised goods across Romania, and employs approximately 115 people. Under the agreement, the business will continue to operate the Pall-Ex brand ensuring continuity of service for customers and partners.
The Group is committed to developing the retained Romanian core businesses, Delamode Romania and Affinity Transport solutions and see lots of opportunities in the region.
“This sale allows us to focus our capital and attention on the markets where we see the greatest opportunity for growth, including our retained Romanian activities. We are proud of what our Pall-Ex colleagues have built over the years, and we are confident the business will continue to thrive under its new ownership.” — Justas Veršnickas, Group CEO, Delamode Group.
The Delamode Group has been established for nearly 40 years, and has been present in Romania for over 30, it has operations in over 15 countries and employs over 2,000 staff, servicing 40,000 customers annually.