To Strengthen Its Position in EMEA and Global IFF Capabilities

HONG KONG SAR  - 5 March 2024 - Kerry Logistics Network Limited ('Kerry Logistics Network', 'KLN'; Stock Code 0636.HK) announced the acquisition of a majority stake in Business By Air SAS ('BBA'), a leading French international freight forwarding company, to strengthen KLN's position in the EMEA region and international freight forwarding ('IFF') capabilities across the globe.

An upstream supply chain specialist in air freight services for diverse industrial clients in verticals including automotive, aerospace and pharmaceutical, as well as an established player in the African market, BBA has been acting as KLN's agent in France since 2016. In addition to multimodal freight forwarding, customs clearance and nationwide trucking, BBA also offers a complete suite of supply chain solutions covering express, on board couriers, project cargo, as well as logistics for fine arts, perishables and personal effects.

Vic Cheung, Group Managing Director of Kerry Logistics Network, said, "We are pleased to welcome BBA to KLN's global network. The acquisition is a natural progression in our strategic pursuit of enhancing our IFF service offerings in the EMEA region. With France's position as one of the world's top exporting countries, the addition of BBA will significantly strengthen our foothold in the country. We are looking forward to the synergies created between KLN's ocean freight capabilities and BBA's air freight expertise, and the extension of our service into the niche verticals of fine arts and perishables, which will further boost our global coverage and competency to offer comprehensive and flexible solutions to customers."

BBA was founded in 1978 and headquartered in Roissy-en-France, with four other offices in Orly, Nice & Le Havre, as well as an office in Pointe-à-Pitre, Guadeloupe.

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