Freight forwarding firm Scan Global Logistics announced June 5 that it had signed an agreement to acquire the German companies ETS Transport & Logistics GmbH and ETS Fulfillment GmbH. The financial terms of this transaction have not yet been disclosed.

The acquisition will add scale to SGL’s operations, specifically within the ocean freight sector. Following the approval of the deal, Scan Global  will be made up of more than 100 experienced logistics professionals that are focused on furthering the company’s position within the German market.

"Increasing our foothold in the world's fourth-largest logistics market supports SGL's strategic focus,” said Allan Melgaard, CEO of Scan Global Logistics. “We see strengthening the German market as a key factor considering Germany's importance as a global trading partner."

The transaction still needs to be approved by German anti-trust regulators before the acquisition can be finalized.