DSV has announced its biggest transaction to date after signing an agreement to acquire Schenker from Deutsche Bahn.
The acquisition will strengthen DSV’s global network, expertise and competitiveness, benefiting employees, customers and investors. The value of the acquisition is EUR 14.3bn, according to a corporate communication.
Access
The reach of the combined company will strengthen the organisation’s competitiveness and provide access to new markets in a very dynamic and competitive industry.
Together, DSV and Schenker will have an expected pro forma revenue of approximately EUR 39.3bn (based on 2023 numbers) and a combined workforce of approximately 147,000 employees in more than 90 countries.
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.
With this acquisition, Germany will be a key market for DSV with a substantial impact on the future organisation. Various central functions will stay in Germany, including at the Schenker location in Essen.
Acquisition
“With the acquisition we will bring together two strong companies, creating a world-leading transport and logistics powerhouse that will benefit our employees, customers and shareholders,” commented Jens H. Lund, Group CEO, DSV.
“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,” remarked Jochen Thewes, CEO, Schenker.
“The sale of DB Schenker to DSV marks the largest transaction in DB’s history and provides our 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,” noted Richard Lutz, CEO, Deutsche Bahn.
The deal is conditional on approvals by the Supervisory Board of Deutsche Bahn and by the German Federal Ministry for Digital and Transport.
