Norbert Dentressangle announced today that it has finalised the acquisition of 100% of Laxey Logistics Ltd, the holding company that owns transport and logistics group TDG.
The €241-million acquisition follows the approval of the deal by European competition authorities on March 21st, and an agreement to purchase TDG signed on November 29th, 2010.
The transaction maintains Norbert Dentressangle's financial flexibility, while accelerating its growth and international expansion, and strengthening its three business activities.
TDG will be consolidated in Norbert Dentressangle's financial statements as of April 1st, 2011.
The transaction valued Laxey Logistics' total share capital at £212 million, or €241 million Norbert Dentressangle also assumed an estimated £30 million of TDG's debt as a part of the deal.
The acquisition was paid entirely in cash from Norbert Dentressangle's reserves and available credit lines.
This strategic acquisition boosts Norbert Dentressangle's pro-forma 2010 revenue to €36 billion, with 57% realised outside France.
The acquisition strengthens Norbert Dentressangle's position in transport (€195 billion in revenue), logistics (€16 billion, and freight forwarding (€100 million), achieving critical mass in the freight forwarding sector - which the company only entered in early-2010.
TDG's revenue is generated by its logistics activities (54% of 2009 revenue) transport (32%) and freight forwarding services (14%) TDG generates 74% of its revenue in the UK, 12% in the Benelux countries, 85% in Spain, 4% in Ireland and 15% in Germany.
Georgia Logistics compiles a monthly set of facts and figures regarding the Logistics Markets. We selected a few facts to share with you
As the European 3PL Awards voting ends in two weeks time, eft highlights what the award means to one of the 2013 winners and 2014 nominee
‘Supply Chains Darlings’ – the companies that tend to dominate the headlines of the supply chain world every-so-often for their innovative thinking, and re-imagination of the industry. Here’s part 6 in our series.