DHL has signed an agreement to acquire up to 100% of J.F. Hillebrand and its subsidiaries for approximately €1.5bn.
Hillebrand is a global service provider specialising in ocean freight forwarding, transportation and logistics of beverages, non-hazardous liquid bulk goods and other products which require special care during transit. The company generated sales of around €1.4bn in the last twelve months and expects volumes of around 500,000 TEU in 2021. Hillebrand employs more than 2,700 people worldwide.
DHL has made the acquisition in order to focus on growing the company’s ocean freight forwarding business. DHL also hopes to benefit from Hillebrand’s experience in liquid bulk and specialty goods, and in various value-added services, such as management tools and Hillebrand’s Flexitank production. In exchange, DHL offers access to DHL Global Forwarding, Freight’s global network.
Tim Scharwath, CEO of DHL Global Forwarding, Freight, commented: “Having focused on improving the business operationally, we are now able to align our core business towards sustainably higher margins by expanding our reach and service offering in specialised segments.”
The merger is subject to approval by antitrust authorities in certain countries, which DHL expects to arrive in the coming months. DHL intends to finance the acquisition with available cash and cash equivalents.
Source: DHL
