Global transport and logistics company DSV has signed an agreement for the acquisition of Schenker from Deutsche Bahn, with the acquisition valued at €14.3 billion (c. £12 billion).
This comes almost two years after Deutsche Bahn decided that it would sell up to 100% of its shares in DB Schenker in a move to focus on its core business in the rail industry and its ‘Strong Rail’ strategy.
In a statement, DSV said that 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’.
It added that the acquisition is set to ‘strengthen DSV’s global network and capabilities’, providing ‘greater reach and better opportunities to serve its customers’, as well as strengthening DSV’s platform for growth and ‘the development of a more sustainable and digital transport and logistics industry’.
Jens H Lund, DSV’s Group CEO, commented: “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.”
This acquisition reflects DSV’s ambition to grow in Germany, which it describes as ‘a key market for DSV with a substantial impact on the future organisation’. The company has confirmed that it plans to invest €1 billion (c. £843 million) in Germany over the next three to five years and anticipates that in five years’ time, ‘the combined organisation will have more employees in Germany than Schenker and DSV have today’.
Jochen Thewes, CEO of Schenker, said: “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.”
Deutsche Bahn’s CEO Richard Lutz added: “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.”
The deal now requires approval from the supervisory board of Deutsche Bahn and by the German Federal Ministry for Digital and Transport, with decisions from these groups expected in the next few weeks. DSV also notes that ‘the acquisition is conditional on obtaining customary regulatory clearances, which are expected to be secured in Q2 2025’.
