COSCO and Fratelli Cosulich JV buys Italian logistics firm Trasgo

Wednesday, 24 July 2024

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COSCOS, the joint venture between China’s COSCO Shipping and Italy’s Fratelli Cosulich, has acquired the entire capital of the Novara-based trucking and logistics player Trasgo.

Established in 1981, Trasgo boasts 14 warehouse facilities with almost 300,000 sq m and over 320 trucks and handling units.

The company offers transport, warehousing, customs operations, cargo handling, trade fair logistics, and direct warehouse management across multiple sectors, including industrial, promotional, technology, and e-commerce logistics. Its transport services cover national and international routes via air, sea, and land.

Fratelli Cosulich said the acquisition represents a pivotal step, expanding coverage and diversifying operations, but that it also stands “as the tangible representation that joining forces and creating synergies, across countries and international players, will lead to unsurpassable added-value effects to all stakeholders involved.”

Commenting on the acquisition, Augusto Cosulich, chairman of Fratelli Cosulich Group, said: “What really matters to me is showing that, just like in life, finding the right partners to create the conditions for joint investment is crucial. It’s time to underline that it is possible to grow together with established partners, but entrepreneurs need to be open to investing their resources.“ 

COSCOS was established in 1996 in Genoa by Fratelli Cosulich Group and Cosco Europe. The company acts as Italy’s general agent for all COSCO conventional tonnage and transportation by road and rail.

According to local media, the Russo family, founders of Trasgo, will remain in the management structure, but COSCOS has appointed Marco Donati to lead the company and has included Marta Cosulich on the board of directors.

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