Norbert Dentressangle buys Schneider Logistics’ freight forwarding business

By on Sep 1, 2010

Norbert Dentressangle has acquired the freight forwarding business of Schneider Logistics in the US and China, gaining access to the US and Asia markets

The transaction, by way of a stock purchase agreement, includes air, ocean-forwarding and customs house brokerage services that operate in seven cities in the US (Atlanta, Chicago, Los Angeles, Miami, New York, San Diego and San Francisco) and two in China (Shanghai and Tianjin)

The acquired business generates approximately US$29 million in annual revenue

The acquisition should be completed by end-October 2010

The deal was announced along with Norbert Dentressangle's half-year results, which include a 39% increase in operating profit and a 39% increase in consolidated revenue

Norbert Dentressangleposted revenues of €14 billion, €821 million of which was from transport activities and €600 million from logistics

During the first six months of the year, Norbert Dentressangle consolidated its current market positions with two opportunistic acquisitions, including a logistics business in Ukraine and a tanker cleaning and wastewater treatment activity in France