M & A
DSV completes € 14.3bn deal for Schenker
EW looks at the finalisation of a massive deal in the logistics and freight forwarding sector as DSV finally gets its deal for Schenker over the line
“ The acquisition doubles the size of DSV and is set to provide a revenue of approximately € 41.6bn and a workforce of close to 160,000.” lobal logistics specialist
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DSV in April announced the completion of a € 14.3bn deal to create a world-leading player in the transport and logistics industry, all conditions and requirements for the acquisition of Schenker from Deutsche Bahn finally met.
The Danish logistics company DSV, which is a major player in the events logistics world, clinched outstanding aprovals from the US and the European Commission for its takeover of DB Schenker following the initial announcement of the deal, reported by EW, last September. DSV had faced a bidding challenge from equity firm CVC but eventually triumphed with its bid.
The acquisition is DSV’ s largest yet and seller, the DB Group will retain all proceeds from the sale, which will substantially reduce its level of debt.
Confirmation that the deal, signed in September 2024 has gone through marks the largest transaction in DSV’ s history. The company says it will“ significantly” enhance its global network, expertise, and competitive edge across all three divisions.
The acquisition also doubles the size of DSV and is set to provide the company with a revenue of approximately € 41.6bn and a workforce of close to 160,000 employees across more than 90 countries. DSV is funding the transaction through a combination of equity raising and debt financing.
Jens H. Lund, group CEO, DSV said:“ With the completion of the acquisition
Left: DSV’ s deal for Schenker is its biggest yet of Schenker, we have reached a milestone in the history of DSV. We have been looking forward to completing the transaction and I am excited to welcome our new colleagues to the DSV organisation. With this acquisition, we become a world-leading player in global transport and logistics, at a time when global supply chains are more in focus than ever before, and our customers need a reliable and agile global network of services and products. By combining the two companies we will create a unique flexible platform for long-term financial growth to the benefit of our customers, employees, shareholders and other stakeholders.”
Jochen Thewes, CEO, Schenker, added:“ We are happy to complete this important milestone, and we are looking forward to joining forces with DSV. The dialogue throughout the last months has been very positive and we are very excited about the prospects of the combined business. DSV and Schenker are a strong match with many similarities in business models and services, shared values and high operational standards, and we look forward to getting to work.”
The combined company said it expected to offer economies of scale, achieving industry-leading margins.
DSV said it would approach the integration“ with due respect and careful consideration for customers, employees and stakeholders”.
By absorbing Schenker’ s extensive network, DSV will expand its footprint significantly, especially in key markets across Europe, North America, and Asia.
Schenker is included in the consolidated financial statements of DSV from 1 May 2025. Annual synergies are estimated in the level of € 1.21bn at end of 2028.
Despite the huge scale of this acquisition, DSV has a proven track record of successfully absorbing large companies, having previously integrated Panalpina in 2019. EW www. exhibitionworld. co. uk Issue 3 2025 23