Following much speculation, DSV has officially announced it has signed an agreement to acquire Schenker from Deutsche Bahn.
DSV says the acquisition will “extend its global network, expertise and competitiveness, benefiting employees, customers and investors”.
“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 39.3 billion (based on 2023 numbers) and a combined workforce of approximately 147,000 employees in more than 90 countries,” adds DSV, in its press release confirming the deal.
DSV also states that Germany will be a key market for the company, which will in turn have a substantial impact on its future organisation. The Danish company says various central functions will stay in Germany, including at the Schenker location in Essen.
DSV adds that it expects to grow in Germany and plans EUR 1 billion investments in Germany in the next 3-5 years. “It is anticipated that five years from now, the combined organisation will have more employees in Germany than Schenker and DSV have today,” claims the Danish logistics giant.
Commenting on the news, Jens H. Lund, Group CEO of DSV, said:
“This is a transformative event in DSV’s history, and we are very excited to join forces with Schenker. 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.”
Jochen Thewes, CEO of Schenker, added:
“DB Schenker is one of the most powerful and innovative teams in transportation and logistics with more than 150 years of experience. The recent years have been the most successful in our company’s history and we have proven that DB Schenker is fit for the future. We are excited about the future prospects of the combined business. 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.”
Richard Lutz, CEO of Deutsche Bahn, also commented:
“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.”