All change at Giraud Logistics

One of Europe’s largest family owned transport and logistics companies has announced major changes. Giraud Logistics has been split from its sister company Giraud International and has been re-branded Premium Logistics.

Its larger sister company, Giraud International, has faced difficulties over the past few years due to the downturn in the French economy. In the summer of 2003 it was rumoured to have financial problems and was finding it difficult to raise extra funding. In contrast, Giraud Logistics has grown steadily and remained profitable. Management hope that the re-branded Premium Logistics will grow at 10% per year and increase its operating profits from 2% in 2003 to 5%.

Even though the company has been spun off, the Giraud family will remain firmly in control through a holding company which owns 83% of shares. Other financial investors and management will hold the remainder of the shares.