DFDS completes £208m HSF Logistics buy-out as ICT additionally added to additional Japanese European place

DFDS completes £208m HSF Logistics buy-out as ICT additionally added to additional Japanese European place

DFDS has accomplished the buy-out of HSF Logistics Group, certainly one of Europe’s main chilly chain logistics suppliers, in a £208 million deal.

The acquisition of the fourth technology Dutch firm, which operates from South Killingholme and Nice Blakenham, Suffolk within the UK, with pursuits within the Netherlands, Germany and Poland, was agreed in January.

It specialises in supporting meat and different meals producers within the temperature-controlled sphere, using greater than 1,800 folks, with revenues of £321 million.

Learn extra:John Good Group’s £77m logistics enterprise purchased out in main deal

Torben Carlsen, chief govt of DFDS, mentioned: “I’m very happy to welcome all HSF workers to the DFDS Group. Our buyer providing to a variety of meals producers is now enhanced considerably. Our dialogue since agreeing to affix forces in January, has confirmed it is a nice match.”

DFDS mentioned the acquisition considerably strengthens chilly chain actions and the providing to chilly chain logistics prospects, with the corporate having acquired main seafood-sector operator Quayside, in Grimsby, seven years in the past. It would reorganise the logistics division – the place turnover will increase to greater than £900 million – into two enterprise items, dry items and chilly chain – the latter embracing UK and Eire, Nordic and Continent operations.

Full consolidation takes place instantly.

Martin Gade Gregersen, chief govt of HSF, turns into head of chilly chain with DFDS, becoming a member of the chief administration group within the course of.

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Having beforehand anticipated overlaying the buy-out over three years, integration has been accelerated with £106 million paid now, and the rest set for October 6. Minority shareholdings have additionally been acquired for an extra £6.6 million.

The transaction was authorised by the EU Fee final week.

It comes as DFDS additionally acquired Danish freight forwarding firm ICT Logistics.

It has places of work in Germany, Latvia, Lithuania, Romania, Russia, Ukraine and the UK, with a fleet of 600 trailers and 20 vehicles. A complete of 80 individuals are employed by the £30 million turnover operation.

DFDS had owned virtually 20 per cent of the shareholding since 2003, having invested six years after ICT launched.

The transfer is described as strengthening and growing DFDS’ jap European place.

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