Expolanka Holdings PLC’s through its fully owned subsidiaries EFL Global Logistics (Pte.) Ltd (Singapore) and EFL Global LLC (USA), has acquired 100% equity interest of IDEA Logistics LLC and its Group of Companies for a total purchase consideration of USD 9.7 Million.

IDEA Logistics LLC is a Central American Logistics company headquartered in the United States, servicing a range of US customers, offering Freight Forwarding, Warehousing & Trucking services.

The company in a filing informed the Colombo Stock Exchange the the acquisition is an important strategic initiative enabling Expolanka to expand its operations into Central America, which is gaining popularity as an emerging and fast growing apparel manufacturing hub, in relation to Near Shoring strategies adopted by leading US customers.

Expolanka Holdings PLC's business sectors include logistics sector, leisure sector and investment sector. The logistics sector includes freight forwarding business under the EFL brand. It is engaged in providing air freight, ocean freight and other contract logistics services, including warehousing and transport services.

The logistics sector also includes airline general sales agents (GSA) operation. The leisure sector includes corporate travel business, which provides airline ticketing, hotel reservations, leisure services, inbound operations and event management services.

Investment sector includes the export of commodities, processing operation and information technology (IT) services. The Company operates in approximately 23 countries across Asia, Africa, Europe, Middle East and United States.