Deutsche Post DHL Group has closed the acquisition of J.F. Hillebrand Group AG (Hillebrand) and its subsidiaries at an equity value of €1.5 billion (approximately $1.65 billion).
"The companies had signed the purchase agreement in August 2021, and Hillebrand now belongs 100 percent to the DHL division Global Forwarding, Freight," an official statement said.
"Hillebrand's expertise in the logistics of beverages, beer, wine and spirits is an excellent addition to our portfolio," says Frank Appel, CEO Deutsche Post DHL Group.
"In line with our Group Strategy 2025, we can further strengthen our logistics core and benefit our shareholders with profitable, long-term growth. This bolt-on acquisition is a great opportunity for us to add a number of services to our high-quality ocean freight service portfolio, which will strengthen earnings and longstanding client relationships from the start."
Hillebrand will now be led by Tim Scharwath, and the integrated business will operate under the new brand name Hillebrand Gori - a DHL company. "The merger is a perfect fit as it combines the strengths of DHL Global Forwarding, Freight's global network with Hillebrand's and Goris' best-in-class solutions," says Scharwath. "This allows us to fully utilise the benefits for our customers. With Hillebrand and Gori running complementary business models, we expect a seamless integration. In combination with Gori we can leverage untapped synergies and develop even better transport solutions for our customers."
Cees van Gent, who managed Hillebrand since 2017, has decided to step down as CEO and Chairman of the Board and will leave the group. Hillebrand's majority shareholder Cobepa will sell its entire stake after 16 years of ownership.
Hillebrand has extensive expertise in liquid logistics with a global footprint in over 90 countries and more than 2,700 employees. In addition, Hillebrand also produces Flexitanks as part of its individualised shipping service solutions for liquid products.