Nippon Express is looking to widen its tracks in international markets and has agreed to acquire Tramo group, a Swiss-Italian furniture logistics specialist, for an estimated 10 billion yen (US$68 million).

The deal, which is scheduled to be completed by 2 November, includes the 18 companies under the Tramo group, including Swiss-based holding company Tramo. The purchase will be made through subsidiary Nippon Express Italia.

The move comes amidst ongoing trend amongst high-end fashion houses of moving into other products and services, such as furniture and hotels. The Japanese logistics group will tap Tramo’s know-how and furniture distribution networks in Europe and North America to serve the company’s clients in the fashion industry as they expand their business portfolios.

Nippon Express Holdings’ medium- to long-term strategy counts on overseas growth driven by mergers and acquisitions, and the company said it will actively use M&A to enter new areas and enhance group synergy, according to a statement earlier this month. In May, the Japanese Holdings Company acquired Austrian logistics player cargo-partner, expanding its network in Central and Eastern Europe.