Logistics, transport and freight forwarding group Norbert Dentressangle has signed an agreement to acquire Laxey Logistics, the holding company which owns fellow supply chain services provider TDG.
A deal, which was made in partnership with investment group Douglas Bay Capital, values the entire share capital of Laxey at £196 million and the transaction is expected to be finalised by the middle of January 2011.
Manchester-based TDG’s 2009 revenue was £662 million, 74 per cent of which comes from the United Kingdom, but the business also operates in the Benelux countries, Spain, Ireland, Germany and Hungary.
Its integrated service includes logistics, transport and freight forwarding and it has a portfolio of “high quality clients”, according to Norbert.
François Bertreau, CEO of Norbert, said: “TDG is a leading player in the market and we are very happy and proud of this agreement with Douglas Bay Capital.
“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.”
Today’s announcement comes after Norbert recently completed the acquisition of the freight forwarding operation of US firm Schneider Logistics, which extends its reach to North America.
In an interview with Retail Gazette earlier this month, the director of Norbert’s Retail Business Unit Peter Fuller said the company wants to expand further and intends to service more of eastern Europe in the months to come.