DFDS to acquire EKOL Logistics to connect Turkey with Europe - photo credits @ Ekol Logistics

DFDS to acquire EKOL Logistics to connect Turkey with Europe

Danish ferry and logistics operator DFDS announced on Tuesday that it will buy the international transport network of Turkish company Ekol Logistics. The decision has raised its turnover growth forecast for this year.

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The deal will link Turkey and Europe and the acquisition will expand the Mediterranean ferry service by road, DFDS said in a statement.

The Danish operator added that the move is in line with the company’s strategy of offering trailer transport of goods by ferry, road and rail.

Turkey’s role as a European manufacturing hub will become even stronger in the future as nearshoring brings supply chains closer to end markets, said DFDS CEO Torben Carlsen.

Ekol and DFDS began talks on the deal back in 2022, and it was approved by the Turkish Competition Authority last year. The transaction is subject to approval by the European Union and is valued at DKK 1.9 billion (€254.7 million).

According to DFDS, the Turkey-Europe transport market is expected to grow by around 14 per cent per year until 2028.

This acquisition expands the DFDS network into a high-growth region, the Danish company added.

Assuming the deal is finalised at the beginning of the fourth quarter of this year, DFDS forecasts full-year turnover growth of 8-11 per cent, compared to an earlier growth forecast of 5-8 per cent. 

Following the acquisition, the Ekol brand will disappear from the EU. However, it will continue to be present under the old name in the Turkish and Ukrainian markets.