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8/17/2021, 4:28 PM (Source: TeleTrader)
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Deutsche Post to buy Hillebrand for €1.5 billion

Deutsche Post DHL Group announced on Tuesday it signed an agreement to acquire up to 100% of logistics company J.F. Hillebrand Group AG and its subsidiaries for around €1.5 billion. The transactions is subject to regulatory approval in several jurisdictions, including the United States and the European Union.

Hillebrand specializes in ocean freight forwarding, transport and logistics of beverages, non-hazardous bulk liquids and other products that require special care and reported a revenue of €1.4 billion for the past twelve months.

"With the growing maturity of our freight forwarding business, this bolt-on acquisition of Hillebrand is highly complementary to our existing portfolio. In line with our Group Strategy, we strengthen our core logistics business and deliver profitable long-term growth," Deutsche Post CEO Frank Appel stated.

Baha Breaking News (BBN) / NP