ND Group to take over part of the Fiege companies in Southern Europe

Norbert Dentressangle acquires Fiege’s logistics operations in Italy, Spain and Portugal and strengthens its market leading positions in Southern Europe
 
Norbert Dentressangle (ND Group) announced on May 27 the acquisition of Fiege’s Italian and Iberian operations with over 20 logistics sites in an all-cash financed deal, further strengthening its market position in the European logistics market and continuing to offer its customers high-level quality services, innovative and customised solutions for a wide range of industry sectors (FMCG, retail, healthcare & pharmaceuticals). 
 
Hervé Montjotin, CEO of Norbert Dentressangle, commented: “This tactical operation will considerably strengthen the Southern region of the European footprint of our logistics business,
 
since Italy and Iberia are crucial geographical components of Norbert Dentressangle’s pan-European network. The leading market positions we are gaining and consolidating in these markets will enable us to rapidly increase critical mass in Southern Europe and to access larger business opportunities in a more systematic and successful way.”
 
Norbert Dentressangle will acquire Fiege Borruso and FLI spa (Pharma) Italian organisation with a workforce of 510 people an EUR 95 million annual turnover. These operations include 11 sites representing 264,000 m² of warehousing area. According to the agreement, Fiege will retain some logistics and air freight contracts operated in Italy and part of its European approach with its German customers. The transaction will create Italy’s 4th largest player on the logistics market, twice Norbert Dentressangle’s current size in Italy. Further to the operation, the new Norbert Dentressangle’s Italian logistics operations will account for a total turnover of EUR 220 million, operating 35 sites, offering 630,000 m² of warehousing area and employing 1,200 people. 
 
On the Iberian market Norbert Dentressangle will acquire Fiege Iberia and Fiege Iberia Operador Spanish and Portuguese operations. With a workforce of 342 people, these Iberian business units recorded 2012 revenues of about EUR 34 million thanks to 5 multi-customer platforms (69,000 m²), 4 specialist dedicated warehouses (67,000 m²), 20 cross-docking platforms (73,500 m²), providing customers with contract logistics services for the transport of ambient, temperature controlled and chilled goods, services for dangerous goods. These Iberian operations are sound and profitable despite the challenging market conditions of the Spanish and Portuguese economies. Further to the transaction, the new Norbert Dentressangle’s Iberian operations will generate combined turnover of EUR 450 million, offering 458,000 m² of ambient warehousing areas, a fleet of 1.800 vehicles and employing 1,700 people.
 
With this sale, the Fiege Group is continuing to press ahead with its strategy of focussing on certain industry sectors solutions and the logistic growth markets in Central and Eastern Europe, as well as China and India. Dr. Hugo Fiege, Chairman of the Advisory Board of Fiege Logistik Holding Stiftung & Co. KG, explains the backgrounds as follows: "Our businesses in Southern Europe are running very successfully, but are only growing slowly because these countries reveal rather established structures in contract logistics. In addition, Italy, Spain and Portugal primarily have regionally or nationally influenced structures in contract logistics without fundamental synergy effects towards our activities in Central Europe or our solutions in China and India. Therefore, we decided on the sale in line with a sustainable growth strategy." The capital released through this sale will be used by the Fiege Group for further expansion in the defined growth markets.

Quelle: LogEastics

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