Major logistics consolidation

Norbert Dentressangle has signed an agreement to acquire the transport and logistics company TDG.

The company and the investment fund Douglas Bay Capital Plc have inked a deal to acquire 100% of the shares of Laxey Logistics, a holding company which owns the transport and logistics company TDG.

Subject to the agreement of the European competition authorities the transaction will create a new group with annualised revenues of €3.6 billion, with stronger positions in transport (€1.95 billion) and logistics (€1.6 billion), as well as delivering critical mass in the strategic freight forwarding sector (€100 million).

The transaction, which is expected to close in mid-January 2011.

François Bertreau, CEO of Norbert Dentressangle, said: “TDG is a leading player in the market and we are very happy and proud of this agreement with DouglasBay Capital PLC. While retaining our financial flexibility this transaction consolidates our presence in each of our three sectors and considerably strengthens our freight forwarding business, allowing us to better meet the needs of our clients at international level. I am confident in our ability to integrate TDG quickly and effectively, improving our services to clients and making the most of best practice on both sides.”