Deutsche Post buys German ocean freight forwarder

Deutsche Post buys ocean freight forwarder

Deutsche Post DHL Group (DPDHL) has signed an agreement to acquire 100% of J.F Hillebrand Group (Hillebrand) and its subsidiaries at an equity value of approximately €1.5 billion ($1.76 billion).

Hillebrand is a global service provider specialized in ocean freight forwarding, transport and logistics of beverages, non-hazardous bulk liquids and other products that require special care.

Hillebrand generated revenue of around €1.4 billion ($1.64 billion) in the last 12 months, will ship approximately 500,000 TEU in 2021, and has more than 2,700 employees worldwide.

Frank Appel, CEO Deutsche Post DHL Group, said, “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.

“Using our financial strength, we are able to pursue quality investments while reinforcing our unchanged commitment to deliver on investor return expectations.”

Tim Scharwath, CEO DHL Global Forwarding, Freight, also commented, “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.

“In this context, Hillebrand is an exceptional opportunity and an excellent fit with our strategy. We are excited to work with the entire Hillebrand team to further develop their best-in-class business on our platform.”

DHL said the deal aims to include additional services within the comprehensive range of ocean freight products DHL already offers its customers globally.

“The acquisition of Hillebrand is a unique opportunity for Deutsche Post DHL Group to add high quality ocean freight services with strong margin characteristics and high cash flow generation.

Melanie Kreis, CFO Deutsche Post DHL Group, commented, “We expect this transaction to be earnings and cash flow accretive from day one.”

The transaction is subject to merger control clearance in certain jurisdictions, inter alia the EU and the US. Such clearances are expected in the coming months. DPDHL intends to fund the acquisition with available cash.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.