Norbert Dentressangle has acquired Daher Group’s freight forwarding activities, which achieved a revenue of 80 million euros ($105 million) last year, for an undisclosed amount.
The deal, which still needs approval from the French authorities, is expected to close in the third quarter.
With the acquisition, Norbert will now achieve a greater stronghold in France — beefing up its holdings with eight Daher offices — and Central and Eastern Europe, and is planning to add three offices in Russia. Norbert also plans to hire 287 more employees, focusing on those with experience in the aviation, automotive, chemical and luxury goods sectors.
“The acquisition of the Daher Group’s freight forwarding activities is a clear illustration of our on-going strategy to expand our freight forwarding business to reach our agreed target after just three years of trading,” Norbert’s Chief Executive Officer Herve Montjotin said in a statement. “This gives us a significant, solid base in France, a key market in which we foresee a wide range of opportunities for commercial synergies with our group’s transport and logistics activities. It will also improve the profitability of our freight forwarding business.” - Jon Ross