Danish ferry and logistics company DFDS has entered into an agreement to acquire 100 per cent of Dutch HSF Logistics Group.
As informed, DFDS will buy the HSF Logistics Group for a debt-free price of DKK 2.2 billion (EUR 296 million).
The company is among Europe’s leading cold chain logistics providers to meat producers and other food producers that operate temperature-controlled supply chains.
Specifically, the acquisition of HSF Logistics Group is aligned with DFDS’ Win23 strategy of growing solutions to cold chain, automotive and forest & metal industries, including cold chain logistics customers. Following the acquisition, the revenue of DFDS’ Logistics Division will increase to DKK 8 billion of which around half will be generated by cold chain logistics.
According to DFDS, the integration of the HSF Logistics Group is expected to generate both commercial and cost synergies as well as synergies from addition of volumes to DFDS’ transport infrastructure of ferry routes and ports.
“I am very excited about the acquisition of HSF Logistics Group as it significantly expands our customer offering to a wide range of food producers. It also opens the door for new growth opportunities and adds freight volumes to our ferry route network,” Torben Carlsen , CEO of DFDS, commented.
Closing of the transaction is expected to take place in around three months subject to regulatory approval and completion of required employee consultation processes.
Over the past few years, DFDS has been expanding its European logistics network. In December 2019, the company acquired Finnish logistics company Freeco Logistics and Dutch logistics firm Huisman Group BV .