ND finalises TDG acquisition

Norbert Dentressangle has finalised the acquisition of 100% of Laxey Logistics, the holding company that owns transport and logistics group TDG.


The €241-million acquisition follows the approval of the deal by European competition authorities on 21 March 2011, and an agreement to purchase TDG signed 29 November 2010.

The transaction maintains Norbert Dentressangle's financial flexibility, while accelerating its growth and international expansion, and strengthening its three business activities. TDG will be consolidated in Norbert Dentressangle's financial statements as of 1 April 2011.

The deal will be accretive in net earnings per share from the first year, and is expected to generate full-year synergies of €12 million, before financial costs and tax. TDG will be consolidated in Norbert Dentressangle's financial statements for nine months of 2011, beginning 1 April.

This strategic acquisition boosts Norbert Dentressangle's size, increasing its pro-forma 2010 revenue to €3.6 billion, with 57% realised outside France, and bringing its headcount to 33,000 employees.

The company adds: "The good fit with TDG strengthens the company's positions in transport, with €1.95 billion in revenue; logistics, with revenue of €1.6 billion; and freight forwarding, with revenue of €100 million, achieving critical mass in this last activity sector, which Norbert Dentressangle entered only in early 2010."