Hedehusene, Denmark: Fast-growing Danish freight forwarder DSV is to acquire DB Schenker from Deutsche Bahn in a deal worth €14.3bn ($15.8bn).
The acquisition will be the biggest by a Danish company and, according to DSV, skyrocket it above DHL Logistics and Swiss group Kuehne+ Nagel in both volume and revenue, but will still only give the group between 6% and 7% of a highly fragmented global logistics market.
“In addition to greater reach and better opportunities to serve its customers, the acquisition strengthens DSV’s platform for growth and the development of a more sustainable and digital transport and logistics industry,” says a statement from DSV.
Jens H Lund, group chief executive of DSV, said: “This is a transformative event in DSV’s history, and we are very excited to join forces with Schenker. With the acquisition we bring together two strong companies, creating a world-leading transport and logistics powerhouse that will benefit our employees, customers and shareholders.”
“By adding Schenker’s competencies and expertise to our existing network, we improve our competitiveness across all three divisions: Air & Sea, Road, and Solutions. As well as enhancing our commercial platform across DSV, the acquisition will provide our customers with even higher service levels, innovative and seamless solutions and flexibility to their supply chains.”
Jochen Thewes, chief executive at Schenker, said: “DB Schenker is one of the most powerful and innovative teams in transportation and logistics with more than 150 years of experience. The recent years have been the most successful in our company’s history and we have proven that DB Schenker is fit for the future. Together with DSV, our goal is to transform the industry and build a truly global market leader with joint European roots for the best of our employees and our customers.”
In 2019 DSV completed the acquisition of Swiss logistics group Panalpina, creating the world’s fourth largest freight-forwarding company.
Completion of the transaction is expected in Q2 2025.