Lufthansa Cargo Takes Over time:matters

August 9, 2016

Lufthansa Cargo has added to its stake in express delivery firm time:matters to take control of the company.

Lufthansa Cargo, which spun off time:matters as a subsidiary in 2002, owned 49 percent of the logistics firm prior to the purchase, with the remaining 51 percent owned by the company’s management and Aheim Capital Funds.

Lufthansa did not provide information on the purchase price of the 51 percent stake.

“time:matters has established itself in recent years as the leading specialist for same-day delivery and emergency logistics in Europe”, Lufthansa Cargo chief executive Peter Gerber said.

“With time:matters, we are aiming to grow our business in the special segment as well.”

time:matters has more than tripled its revenue to over EUR€65 million since 2006.

(Airwise)