INTERNATIONAL freight forwarder DSV has signed an E14.3 billion deal to acquire logistics business Schenker.
DSV will acquire the business from Deutsche Bahn giving it a combined workforce of approximately 147,000 employees in more than 90 countries.
Together, DSV and Schenker will have an expected pro forma revenue of approximately E39.3 billion (based on 2023 numbers).
A DSV media release announcing the deal said the acquisition of Schenker will strengthen DSV’s global network and capabilities.
“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,” the release said.
DSV CEO, Jens H. Lund, said the acquisition was a transformative event in DSV’s history.
“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.”
Richard Lutz, CEO of Deutsche Bahn said the sale of DB Schenker to DSV marks the largest transaction in DB’s history, providing the logistics subsidiary with clear growth prospects.
“It has been important for us to find a strong partner for Schenker and a long-term home for the employees of the company,” Mr Lutz said.
The deal is conditional on approvals by the Supervisory Board of Deutsche Bahn and by the German Federal Ministry for Digital and Transport, which are expected in the coming weeks.
In addition, the acquisition is conditional on obtaining regulatory clearances, which are expected to be secured in Q2 2025. DSV expects to finance the transaction through a combination of equity financing of around E4-5 billion and debt financing.
