Qatari logistics giant Gulf Warehousing Company (GWC) acquired a non-controlling stake in Austria-based startup Quivo, according to a press release. GWC integrated Quivo’s software into its Qatar-based warehouses, with its KSA and UAE-based warehouses to follow suit. The acquisition enables GWC’s GCC-based clients to access markets where Quivo is active, namely the EU, UK, and the USA. The size of the stake and value of the transaction were undisclosed.

On an expansion streak: GWC agreed to acquire a c.16.2% equity stake in German supply chain operator Ancla Logistik for EUR 8.2 mn earlier this year. GWC also launched a wholly-owned subsidiary – named GWC ENR — in Saudi Arabia last year.

About Quivo: Founded in 2017, the logistics startup was created from the merger of three logistics brands: Logsta, Ancla, and PackAngels, and offers e-commerce solutions for direct-to-customer brands, according to its website. Quivo operates a network of six warehouses across Germany, France, Austria, UK, and the USA.

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