DSV acquires Swiss freight company Panalpina

Danish logistics service provider DSV has acquired Swiss company Panalpina World Transport in a transaction valued at €4.1 billion. The purchase of Panalpina is part of the ongoing wave of consolidation in the sector.

DSV’s takeover of Panalpina puts it in the top 4 of the world’s largest logistics service providers, after DHL Global, Kuehne+Nagel and DB Schenker. The Danish firm previously tried to acquire the Swiss company Ceva Logistics, but it lost out in the bidding war to the French company CMA CGM.

DSV made an unsolicited bid for Panalpina in January this year, initially at a price of CHF170 per share. The deal was eventually concluded at almost CHF196 per share. The purchase of Panalpina will enable DSV to complement its strong road presence by expanding its air and sea logistics activities.

Active in 70 countries

Panalpina has 500 offices in 70 countries and employs approximately 14,000 people. Last year, it achieved a turnover of €5.4 billion. DSV has around 47,400 employees and was worth €10.6 billion in 2018.