Norbert Dentressangle acquires Fiege's logistics assets
Norbert Dentressangle (ND) announced the acquisition of logistics service provider Fiege’s Italian and Iberian operations this week in an all-cash financed deal.
The company significantly increased the size of its logistics business and further strengthened its market position in the European logistics market through the acquisitions, which ND hopes will encourage development where the macro-economical context creates opportunities.
ND claims the new assets will significantly increase the size of its logistics business with ‘profitable and sound operations, broadened skills, expertise and customer portfolio, including FMCG, retail and healthcare & pharmaceuticals’, according to a statement released by the company.
Hervé Montjotin, CEO of Norbert Dentressangle, commented: “This tactical operation will considerably strengthen the Southern region of the European footprint of our Logistics business, since Italy and Iberia are crucial geographical components of Norbert Dentressangle’s pan-European network.
“Our decision to continue to invest in the region reflects clients’ increased need for seamless and robust transport and logistics solutions and we are delighted that Norbert Dentressangle will be able to provide them with even greater efficiency while safeguarding its high quality standards. The leading market positions we are gaining and consolidating in these markets will enable us to rapidly increase critical mass in Southern Europe and to access larger business opportunities in a more systematic and successful way.”
ND will become the 4th largest player on the Italian logistics market, doubling Norbert Dentressangle’s current footprint in Italy through the acquisition of Fiege Borruso and FLI spa (Pharma) Italian operations, in a deal which is ‘complementary in terms of network, skills, expertise and customer portfolio’.
With a workforce of 510 people, these Italian operations generated 2012 revenues of ca. €95M and ran at profit thanks to 11 sites representing 264,000 m² of warehousing area. According to the agreement, Fiege will retain some logistics and air freight contracts operated in Italy and part of its European approach with its German customers.
Norbert Dentressangle’s Italian logistics operations will account for a total turnover of €220M, operating 35 sites, offering 630,000 m² of warehousing area and employing 1,200 people.
Through the operation, Norbert Dentressangle will also acquire Fiege Iberia and Fiege Iberia Operador Spanish and Portuguese operations, bringing complementary network, customer portfolio, together with highly skilled expertise.
With a workforce of 342 people, these Iberian operations recorded 2012 revenues of ca. €34M thanks to 5 multi-customer platforms (69,000 m²), 4 specialist dedicated warehouses (67,000 m²), 20 cross-docking platforms (73,500 m²), providing customers with contract logistics services for the transport of ambient, temperature controlled and chilled goods, services for dangerous goods.
The operation will enable Norbert Dentressangle to strengthen its position among market leaders and significantly increase the size of its logistics business with broadened skills, expertise
and customer portfolio.
Further to the transaction, the new Norbert Dentressangle’s Iberian operations will generate combined turnover of €450M, offering 458,000 m² of ambient warehousing areas, a
fleet of 1.800 vehicles and employing 1,700 people.