Danish ferry and logistics company DFDS continues to grow its logistics portfolio as it acquired compatriot freight forwarder ICT Logistics. On 15 September, DFDS revealed it took over 100% of the share capital it the company focused on providing transport solutions between Scandinavia and Eastern Europe, particularly Russia, Ukraine, Romania, Latvia, and Lithuania.
The ferry company has owned 19.9% of the shares in ICT Logistics since 2006.
As explained, ICT Logistics expands its new owner’s logistics activities in Eastern Europe. In addition, the integration with DFDS’ existing logistics network is expected to generate synergies from business development opportunities and operations.
“ICT Logistics … improves our offering to customers trading with Eastern Europe. The expansion of our logistics network also complements our Baltic ferry route network,” Niklas Andersson, Executive Vice President and Head of Logistics Division, commented.
The transaction is subject to approval by relevant competition authorities. ICT Logistics will be consolidated in the DFDS Group once the transaction is closed, the ferry and logistics provider said.
The integration of HSF Logistics can start
Following last week’s approval by the EU Commission, DFDS can now start the integration of the recently acquired Dutch cold chain logistics provider HSF Logistics Group.
On 14 September, the company said it completed the acquisition of the HSF Logistics Group.
The majority of the integration is expected to be completed within a year, except for the IT integration that is expected to take longer to complete.
The acquisition of HSF Logistics Group is said to be aligned with DFDS’ Win23 strategy of growing solutions to select industries. The acquisition significantly strengthens DFDS’ cold chain activities and the offering to cold chain logistics customers, according to the company.
Source: World Maritime News