Hong Kong-based logistics provider Kerry Logistics Network Ltd. is preparing to expand its global network with the acquisition of an unspecified US freight forwarder, the company told analysts Monday according to the Wall Street Journal, citing a report by investment firm Jefferies Group.

The logistics company, with a keen focus on China and Southeast Asia, has been steadily expanding its reach round the world – including Brazil in 2013 and the Middle East and Canada in early 2015 – and in the conference call it said it will acquire a 51 per cent stake of an unnamed US company and would announce the acquisition within two months.

The analyst report also said Kerry has identified acquisition targets in Singapore, the Philippines and Indonesia.