DSV A/S, a Denmark-based global supplier of transport and logistics, has today agreed to acquire Schenker AG and its affiliates for nearly $16 billion.
DB Schenker, one of the largest logistics service providers in the world, acquired USA Truck in June 2022 for approximately $435 million.
The sale of DB Schenker to DSV marks the largest transaction in DB's history. The transaction is subject to approval by the Supervisory Board of Deutsche Bahn and by the German Federal Ministry for Digital and Transport in the coming weeks, as well as customary regulatory approvals. Completion of the transaction is expected mid-next year.
“This is a transformative event in DSV’s history," said Jens H. Lund, CEO of DSV, "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.”
The acquisition creates a global transport and logistics giant with a combined revenue of $43.5 billion and a joint workforce of around 147,000 employees across more than 90 countries. The combined company will be the world’s largest freight forwarder by volume and revenue, ahead of the likes of UPS and DHL.
“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," said Jochen Thewes, CEO of Schenker. "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.”
Within DSV's Air & Sea division, the addition of Schenker’s global network will create a combined network, handling approximately 4.3 million containers (TEUs) and approximately 2.4 million tonnes of air freight annually. For the Road division, the acquisition will establish a combined network based on Schenker’s strong position in Europe, especially in Germany, which will add to the significant commercial and operational synergies. For the Solutions division, Schenker provides additional warehousing capacity of approx. 8.5 million square meters to DSV, bringing the total capacity to approximately 17.5 million square meters across more than 60 countries, significantly expanding the customer offerings.
