Norbert Dentressangle Acquires Fiege's Logistics Operations In Italy, Spain and Portugal
As part of its continued global development strategy, Norbert Dentressangle has acquired Fiege’s logistics operations in Italy, Spain and Portugal. The acquisition further strengthens Norbert Dentressangle’s market leading positions in these key...
The transaction will see Norbert Dentressangle becoming the fourth largest player in the Italian logistics market – twice Norbert Dentressangle’s current size in Italy. In a deal that is complementary in terms of network, expertise and customer portfolio, Norbert Dentressangle will acquire Fiege Borruso and FLI spa (Pharma) Italian operations. Fiege will retain some logistics and air freight contracts in Italy.
With a workforce of 510 people, Fiege’s Italian operations generated 2012 revenues of circa €95M and ran at a profit, thanks to 11 sites representing 264,000 m² of warehousing area. Further to the deal,Norbert Dentressangle’s Italian logistics operations will account for a total turnover of €220M, operating 35 sites, offering 630,000 m² of warehousing area and employing 1,200 people.
In addition, Norbert Dentressangle will acquireFiege Iberia and Fiege Iberia Operador’s Spanish and Portuguese operations - again bringing together a complementary network and customer portfolio.
With a workforce of 342 people, the Iberian operations recorded 2012 revenues circa €34M thanks to five multi-customer platforms (69,000 m²), four 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, plus services for dangerous goods.
Further to the transaction, Norbert Dentressangle’s Iberian operations will generate combined turnover of €450M, offering 458,000 m² of ambient warehousing areas, a fleet of 1.800 vehicles and employing 1,700 people.
Hervé Montjotin, CEO of Norbert Dentressangle, commented: “This tactical acquisition 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.
“Our decision to continue to invest in the region reflects clients’ increased need for seamless and robust transport and logistics solutions and we are delighted that Norbert Dentressangle will be able to provide them with even greater efficiency while safeguarding its high quality standards. 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.”