DFDS has entered into an agreement to acquire 100% of HSF Logistics Group. a European cold chain logistics provider to meat producers and other food producers.
The Group operates four brands with HSF Logistics a leading brand in the Netherlands, Germany and the UK. N&K Spedition and Skive Køletransport are leading brands in Denmark and Scandinavia, together constituting around half of the revenue of the Group. Eurofresh is a brand focused on the German market.
The acquisition of HSF Logistics Group is aligned with DFDS’ Win23 strategy of growing solutions to selected industries, including cold chain logistics customers.
HSF Logistics Group has revenue of DKK 2.8bn and 1,800 employees and the deal has an enterprise value of DKK 2.2bn (€296m)
Following the acquisition, the revenue of DFDS’ Logistics Division will increase to DKK 8bn, of which around half will be generated by cold chain logistics.
Said Torben Carlsen, CEO of DFDS: “I am very excited about the acquisition of HSF Logistics Group as it significantly expands our customer offering to a wide range of food producers. It also opens the door for new growth opportunities and adds freight volumes to our ferry route network.”
Said Simon Frederiks, major shareholder of HSF Logistics Group: “As part of the family that founded HSF Logistics nearly a hundred years ago in 1923, I am very happy to now become part of the DFDS family.
“Together, we can grow the business for the benefit of our many longstanding customers and our many loyal, dedicated employees.”
Said Martin Gade Gregersen, CEO of HSF Logistics Group: “By becoming part of DFDS we gain access to new growth opportunities. It enables us to offer customers wider market coverage and use our combined expertise to develop even more efficient and reliable solutions.”
Closing of the transaction is expected to take place in around three months subject to regulatory approval and completion of required employee consultation processes.
