DHL has reached an agreement to acquire 100 per cent of FC (Flying Cargo) International Transportation, the Tel-Aviv, Israel-based international freight forwarding unit of Flying Cargo Group.

The transaction is subject to regulatory approval, and is expected to close in the next few weeks. FC International Transportation has been DHL Global Forwarding’s agent in Israel for many years.

The acquisition enables DHL Global Forwarding to establish a strong presence in the Israeli international forwarding market. Israeli trade growth is strong and FC International Transportation provides a solid customer base in highly attractive sectors, like healthcare and electronics, DHL said.