Danish transport and logistics company, DSV, has announced its largest purchase to date, finalising an agreement to acquire Schenker from Deutsche Bahn.
The purchase aims to improve DSV’s global network, knowledge, and competitiveness, benefiting workers, customers, and investors. The deal is valued at €14.3 billion ($15.8 billion).
The company revealed that various central functions will stay in Germany, including at the Schenker location in Essen. DSV expects to grow in Germany and plans €1 billion ($1.1 billion) investments in Germany in the next three to five years.
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Jens H. Lund, Group CEO, DSV, said: “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.”
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Jochen Thewes, CEO, Schenker, stated: “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.”
The acquisition is scheduled to be finalised in 2025 if all regulatory permissions are obtained.
In July, Maersk confirmed that it had withdrawn from the bid for DB Schenker.
