Panalpina’s acquisition by DSV to create global logistics powerhouse

After several weeks of speculation, Danish transportation and logistics firm DSV has confirmed going ahead with its plan to buy out Swiss freight forwarder Panalpina. The deal is valued at $4.6 billion and it is slated to create an over $17 billion revenue entity. The combined entity is likely to function with a new name – DSV Panalpina.

“DSV and Panalpina will become one of the world’s largest transport and logistics companies with a combined pro forma revenue of approximately $17.76 billion and a combined workforce of more than 60,000 employees,” an official release said.

DSV officials maintained that the acquisition would position the company to form a stronger network with greater expertise and service offerings globally. Kurt Larsen, Chairman of the Board of DSV, called the deal “a great match on all parameters.”

Spread the love

Related posts

Leave a Comment