MAG45 is pleased to announce that the Boards of MAG45 and Savone Global Service Srl have both approved to join forces. The combination with Savone offers MAG45 an exceptional overlap of upstream businesses that will enhance MAG45's competitiveness and value in their core areas. This is particularly interesting through the forthcoming synergies in utilizing both companies' key competences within sourcing and logistics. The transaction is expected to close at the end of 2017.
Commenting on the collaboration, Bauke Zeinstra, CEO MAG45 said, "This transaction delivers an opportunity for MAG45 to acquire, via an assets buyout, a company with high quality assets which are an excellent fit with MAG45's core regions and markets. The combination of Savone's business with our existing portfolio will reinforce the position of MAG45 as the reference in integrated supply in Europe."
"Through this collaboration, we will be able to extend local service to our current customers via the new Italian MAG45 office. It is also in line with our strategy to expand our footprint to enable serving our customers locally on a global scale."
Mr. Raniero Savone, CEO Savone concluded: "This transaction ensures us to even better serve our (inter)national customers over coming years. It is in line with our growth strategy to take advantage of the current market conditions to add new resources. By being part of a company with such a global portfolio of integrated supply solutions we confirm our strategy."