TVG Zimsen, a subsidiary of Eimskip, has acquired Cargo Express, a company specializing in air freight in Iceland. With the acquisition, TVG Zimsen adds important expertise in air freight, taking a significant step toward the Eimskip Group strategy to strengthen services, broaden its product range, and support the continued development of integrated and value adding logistics solutions across sea, land, and air.
“With the acquisition of Cargo Express, we strengthen the company’s service offering and enhance the end-to-end solutions available to our customers, especially in the export of fresh products”
says Björn Einarsson, Chairman of the Board of TVG Zimsen.
“We see exciting opportunities, including in salmon and fish farming, where specialized air freight is a strong addition to the Group’s service portfolio. We see significant potential in this rapidly growing industry, and we intend to be at the forefront with initiative and ambitious solution offerings for our customers.”
Cargo Express, founded in 2008, is the first independent GSA (General Sales Agent) for air freight in Iceland. The company has built extensive expertise and strong customer relationships. It has grown steadily since its founding, and its estimated profit for 2025 is around 130 million ISK. Cargo Express offers specialized solutions in air freight, customs clearance, documentation, and handling of temperature controlled shipments, including fresh seafood. Róbert Tómasson, one of the founders of Cargo Express, will continue as Managing Director and lead the company’s operations within TVG Zimsen.
“I am proud of Cargo Express’s journey and that the company now has the opportunity to develop even further within TVG Zimsen and the Eimskip Group. I believe the acquisition will strengthen and expand the service offering to customers. Major changes are taking place in the export market — for example with increased fish farming and other specialized air transport. These milestones create significant opportunities to further enhance the services Cargo Express has provided over the past 17 years” says Róbert Tómasson, Managing Director of Cargo Express.
The acquisition is subject to approval by the Icelandic Competition Authority.
KPMG acted as advisor to the seller in the sales process, and LOGOS advised the buyer.