Business, Forwarding, Freight News, Logistics

DSV completes Agility takeover

[ August 16, 2021   //   ]

DSV Panalpina has completed its takeover of Agility’s Global Integrated Logistics business. The acquisition puts DSV is in the top three global logistics companies, with expected combined revenue of about DKK 160 billion (US$25.3bn)and a combined workforce of 75,000 employees in more than 90 countries.

It follows the Danish giant’s earlier purchases of Panalpina in 2019 and US-based UTi Worldwide in 2016.

GIL has an annual revenue of DKK 29 billion ($4.6 billion) with air and sea freight as the main contributor. The purchase will also increase DSV’s presence in Asia-Pacific and the Middle East. It will also add 1.4 million square meters of warehousing capacity to DSV Solutions.

DSV Panalpina group chief executive Jens Bjørn Andersen said: “By adding the GIL network and competencies to our existing network, we improve our competitiveness across all three divisions: Air & Sea, Road and Solutions. This brings commercial synergies and cross-selling opportunities while at the same time providing our customers with an even higher service level and a one-stop-shop for logistics needs.”

The two organisations will be merged on a country-by-country process, which means that for customers and employees in many countries the coming period will be business as usual until the country-specific merger process is initiated.