TOKYO -- Nippon Express will acquire the Tramo group, a European shipper specializing in luxury furniture, as the Japanese logistics company looks to broaden its reach in international markets.
The deal announced Monday by holding company Nippon Express Holdings is estimated to be worth just over 10 billion yen ($68 million). By buying Tramo, which operates in Europe and North America, Nippon Express aims to boost its competitiveness abroad as a shrinking population and a shift toward offshore manufacturing cloud the market outlook at home.
