DFDS expands logi­stics net­work to Türkiye

DFDS acquires international transport network connecting Türkiye and Europe from Ekol Logistics, strengthening DFDS’ market position in the transport corridor between Türkiye and Europe. The transaction is expected to be completed in Q4 2024, pending EU merger control approval.

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Today, DFDS has ente­red into an agree­ment to acqui­re the inter­na­tio­nal trans­port net­work of Ekol Logi­stics that trans­ports goods bet­ween Tür­ki­ye and Euro­pe through own offices and faci­li­ties in 10 Euro­pean count­ries. The inter­na­tio­nal trans­port net­work of Ekol Logi­stics has 3,700 employees and a reve­nue of DKK 3.5bn (EUR 470m) in 2023. The purcha­se pri­ce is DKK 1.9bn (EUR 260m).

With the acqui­si­ti­on, DFDS adds road trans­port to DFDS’ Medi­ter­ra­ne­an fer­ry net­work, ther­eby exten­ding DFDS’s pro­ven nor­t­hern Euro­pean ferry/road busi­ness model to this regi­on. In addi­ti­on, DFDS’s logi­stics net­work is expan­ded across Europe.

“This acqui­si­ti­on is an excel­lent stra­te­gic match for DFDS. Trans­port­ing lar­ge trai­ler volu­mes relia­bly and effi­ci­ent­ly using com­bi­na­ti­ons of road, fer­ry, and rail is our core busi­ness. Moreo­ver, we belie­ve Türkiye’s role as a manu­fac­tu­ring hub for Euro­pe will beco­me even stron­ger in the future as near­sho­ring dri­ves sup­p­ly chains clo­ser to end mar­kets”, says Tor­ben Carlsen, CEO of DFDS.

“I’m deligh­ted that Ekol Logi­stics’ inter­na­tio­nal trans­port net­work and all its skil­led and dedi­ca­ted employees have found a new home with our long­stan­ding part­ner DFDS. This com­bi­na­ti­on has the poten­ti­al to make the trans­port infra­struc­tu­re bet­ween Tür­ki­ye and Euro­pe more effi­ci­ent and help rai­se Türkiye’s attrac­ti­ve­ness as a manu­fac­tu­ring hub fur­ther”, says Ahmet Musul, foun­der and Chair of the Board of Direc­tors of Ekol Logistics.

The Türkiye-Europe trans­port mar­ket is on avera­ge expec­ted to grow by around 14% annu­al­ly until 2028 sup­port­ed by near­sho­ring of sup­p­ly chains clo­ser to Europe.

The addi­ti­on of the inter­na­tio­nal trans­port net­work of Ekol Logi­stics, enables DFDS to offer end-to-end trans­port solu­ti­ons bet­ween Tür­ki­ye and Euro­pe direct­ly to end cus­to­mers, inclu­ding dis­tri­bu­ti­on ser­vices and warehousing to Tur­ki­sh com­pa­nies and Euro­pean and glo­bal manu­fac­tu­r­ers with pro­duc­tion or assem­bly plants in Türkiye.

In 2023 the inter­na­tio­nal trans­port net­work of Ekol Logi­stics had a reve­nue of DKK 3.5bn (EUR 470m) and an EBIT-margin of 2,5 %, down from 4,8 % in 2022. A busi­ness and inte­gra­ti­on plan is in place with the finan­cial objec­ti­ve to impro­ve the EBIT-margin to around 5% by 2027.

Com­ple­ti­on of the tran­sac­tion is con­di­tio­nal upon EU mer­ger con­trol appr­oval and usu­al con­trac­tu­al con­di­ti­ons. As announ­ced on 28 July 2023, the tran­sac­tion has been appro­ved by the Tur­ki­sh Com­pe­ti­ti­on Aut­ho­ri­ty. Clo­sing is expec­ted around the begin­ning of Q4 2024.

Read more in the com­pa­ny announce­ment here.


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