93-year-old German haulage company changes hands
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Fehrenkötter Transport & Logistik, whose long history dates back to 1929, has been taken over by the LIT Group, it was announced earlier this week.
Under the terms of the agreement, which applies retrospectively to the beginning of this year, Fehrenkötter’s existing managing director, Joachim Fehrenkötter, will continue in his role. The company will operate as an independent unit within the LIT group.
Commenting on the deal, Ingo Schreiber, member of the board of directors of LIT AG, said:
“We are pleased that with Fehrenkötter we can welcome another successful company in our strong group of transport, logistics and service companies.”
Both parties hope that the agreement will result in great growth opportunities.
“As a responsible entrepreneur, I want to ensure that our very successful company is positioned for the future and that the successor is clarified at an early stage,” says Joachim Fehrenkötter, formerly the sole shareholder and managing director of Fehrenkötter Transport & Logistik. “Since I don’t have a successor, docking with the LIT group of companies was a logical step for us and made sense for both sides.”
Fehrenkötter Transport & Logistik GmbH was founded in 1929 and currently sports a fleet of 150 vehicles.
Meanwhile, the LIT Group, founded in 1988, operates in over 75 locations in 15 countries, has over 550,000 square meters of logistics space, and boasts a fleet of more than 1,400 trucks, 1,100 trailers and 4,500 swap bodies.
Photo: Spielvogel, CC0, via Wikimedia Commons