DSV has announced its biggest transaction to date: the acquisition of Schenker from Deutsche Bahn.
The value of the acquisition is EUR 14.3 billion ($15.9 billion).
DSV says it will strengthen its global network, expertise and competitiveness, benefiting employees, customers and investors.
Together, DSV and Schenker will have an expected pro forma revenue of approximately EUR 39.3 billion (based on 2023 numbers) and a combined workforce of approximately 147,000 employees in more than 90 countries.
With the acquisition, Germany will be a key market for DSV with a substantial impact on the future organization. Various central functions will stay in Germany, including at the Schenker location in Essen. DSV expects to grow in Germany and plans EUR 1 billion investments in Germany in the next 3-5 years.
Jens H. Lund, Group CEO, DSV: “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.”
The integration planning will be a joint effort between DSV and Schenker and the specific plans will be developed between the signing and closing of the transaction.
The deal is conditional on approvals by the Supervisory Board of Deutsche Bahn and by the German Federal Ministry for Digital and Transport, which are expected in the coming weeks. In addition, the acquisition is conditional on obtaining customary regulatory clearances, which are expected to be secured in Q2 2025. DSV expects to finance the transaction through a combination of equity financing of around EUR 4-5 billion and debt financing.
Until the closing of the transaction, DSV and Schenker remain two separate companies conducting business as usual.