DSV, a global transport and logistics company, has made a historic move by signing an agreement to acquire Schenker from Deutsche Bahn in a deal worth EUR 14.3 billion. This acquisition marks DSV’s largest transaction to date and is set to significantly strengthen its global network and competitiveness.
The combined company is expected to have a pro forma revenue of approximately EUR 39.3 billion, based on 2023 numbers, and a workforce of around 147,000 employees in over 90 countries. The acquisition will expand DSV’s reach and provide access to new markets, enhancing its ability to serve customers in a dynamic and competitive industry.
Jens H. Lund, Group CEO of DSV, said, “This is a transformative event in DSV’s history, 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. By adding Schenker’s competencies and expertise to our existing network, we improve our competitiveness across all three divisions: Air & Sea, Road, and Solutions. As well as enhancing our commercial platform across DSV, the acquisition will provide our customers with even higher service levels, innovative and seamless solutions and flexibility to their supply chains.”
With the integration of Schenker, DSV aims to bolster its platform for growth and contribute to the development of a more sustainable and digital transport and logistics industry. Germany will play a key role in DSV’s future plans, with substantial investments of EUR 1 billion expected in the next 3-5 years. This move is anticipated to fuel long-term growth, job creation, and the establishment of modern workplaces.
Jochen Thewes, CEO of Schenker, commented, “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. 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.”
The two companies share similar business models, services, and operational standards, creating a wide range of service offerings for customers across various industries. DSV is committed to ensuring a smooth transition that prioritizes service excellence for all Schenker customers, as well as taking careful consideration of employees and stakeholders. Integration planning will be a joint effort, and social undertakings have been issued for employees in Schenker in Germany, ensuring continuity for at least two years post-closing.
The deal is subject to approvals by the Supervisory Board of Deutsche Bahn and the German Federal Ministry for Digital and Transport, with regulatory clearances expected in Q2 2025. DSV plans to finance the transaction through a combination of equity financing of around EUR 4-5 billion and debt financing.
Richard Lutz, CEO of Deutsche Bahn, added, “The sale of DB Schenker to DSV marks the largest transaction in DB’s history and provides our logistics subsidiary with clear growth prospects. It has been important for us to find a strong partner for Schenker and a long-term home for the employees of the company.”
Until the closing of the transaction, DSV and Schenker will continue to operate as separate entities, conducting business as usual.
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