UK-based Drac Logistics, a Staffordshire freight forwarding company that had filed two notices of intention to appoint administrators, has been acquired by Fracht Logistics, a subsidiary of Fracht (UK), in a deal designed to protect freight forwarding jobs and maintain continuity of service across its customer and supplier base.

Insider Media reported that Fracht Logistics acquired the assets and trade of Drac Logistics, which is headquartered in Stone, Staffordshire, and operates across England and Scotland, offering air, road, rail, and sea freight services, European groupage, and worldwide customs and clearance solutions.

Alex Hayes, founder of Drac Logistics, said: "This represents an exciting new chapter being a part of the Fracht Global family, providing continuity for our staff, customers and suppliers. Providing broader international support and increased resources. This allows us to invest further in our people, systems, and global network — ultimately delivering even better solutions, flexibility, and long-term value for our clients."

Founded in 1955, the independent and family-owned Fracht Group operates across more than 150 offices in over 50 countries.

Claus Rasmussen, managing director of Fracht UK Ltd, said: "Together, our combined resources and greater presence across the UK create an exciting platform for growth."

Drac Logistics was founded in 2009 and has built a 17-year reputation in the freight forwarding market, with domestic and international supply chain services at its core.

David Neate, partner at Evolve Corporate Finance, who advised the purchaser, described Drac as a business with a long and proud history in the freight forwarding market, adding that the acquisition would enable the company to develop new services and strengthen its ability to serve a global client base.

Access the full details of the acquisition and its implications for the freight forwarding sector.