DFDS has today entered into an agreement to acquire 100% of HSF Logistics Group. The company is one of Europe’s leading cold chain logistics providers to meat producers and other food producers that operates temperature-controlled supply chains.
The Group operates four brands with HSF Logistics a leading brand in the Netherlands, Germany and the UK. N&K Spedition and Skive Køletransport are leading brands in Denmark and Scandinavia, together constituting around half of the revenue of the Group. Eurofresh is a brand focused on the German market.
The acquisition of HSF Logistics Group is aligned with DFDS’ Win23 strategy of growing solutions to selected industries, including cold chain logistics customers. Following the acquisition, the revenue of DFDS’ Logistics Division will increase to DKK 8bn of which around half will be generated by cold chain logistics.
“I am very excited about the acquisition of HSF Logistics Group as it significantly expands our customer offering to a wide range of food producers. It also opens the door for new growth opportunities and adds freight volumes to our ferry route network,” says Torben Carlsen, CEO of DFDS.
“As part of the family that founded HSF Logistics nearly a hundred years ago in 1923, I am very happy to now become part of the DFDS family. Together, we can grow the business for the benefit of our many longstanding customers and our many loyal, dedicated employees”, says Simon Frederiks, major shareholder of HSF Logistics Group.
“By becoming part of DFDS we gain access to new growth opportunities. It enables us to offer customers wider market coverage and use our combined expertise to develop even more efficient and reliable solutions”, says Martin Gade Gregersen, CEO of HSF Logistics Group.
Strategic fit and synergy
The acquisition is aligned with DFDS’ Win23 strategy of growing solutions to three industries, namely automotive, forest & metal and cold chain. The growth strategy for cold chain builds on DFDS’ existing cold chain offering in mainly the UK and Belgium.
Adding the HSF Logistics Group to the existing activities expands the geographical scope to the Netherlands, Scandinavia, Germany and southern Europe, as well as China and Morocco. In addition, it adds expertise in meat logistics to DFDS’ expertise in aquaculture/ seafood and general food logistics.
The integration of the HSF Logistics Group is expected to generate both commercial and cost synergies as well as synergies from addition of volumes to DFDS’ transport infrastructure of ferry routes and ports. Expected synergies will be described in further detail in connection with the closing of the transaction.
For more information:
Torben Carlsen, CEO
Tel.: +45 33 42 32 01
Karina Deacon, CFO
Tel.: +45 33 42 33 42
Søren Brøndholt Nielsen
Tel.: +45 33 42 33 59
Nicole Seroff, Communications
Tel.: +45 31 40 34 46