DEUTSCHE Post DHL Group (DP DHL) has revealed plans to acquire ocean freight forwarding expert JF Hillebrand Group and its subsidiaries at an equity value of around EUR1.5 billion (US$1.7 billiion).
The move follows the company recently admitting that it is taking an "opportunistic approach" to freight forwarding acquisitions, despite the spate of takeovers recently announced by some of its peers.
Hillebrand is a global service provider that specialises in ocean freight forwarding, the transport and logistics of beverages, non-hazardous bulk liquids and other products that require special care. It generated revenue of around EUR1.4 billion over the last twelve month.
Frank Appel, chief executive of Deutsche Post DHL Group, commented: "With the growing maturity of our freight forwarding business, this bolt-on acquisition of Hillebrand is highly complementary to our existing portfolio. In line with our Group Strategy, we strengthen our core logistics business and deliver profitable long-term growth."
Tim Scharwath, chief executive of DHL Global Forwarding, Freight, added: "After concentrating on improving the business operationally, we are now able to direct our core business towards sustainably higher margins by broadening our reach and service offering in specialized segments."
https://www.shippingazette.com/menu.asp?encode=eng
|
Back:
Next:
