The transaction will see Dentressangle become the fourth-largest player in the Italian logistics market.
Dentressangle will obtain Fiege Borruso and FLI spa (Pharma) Italian operations, while Fiege will retain some logistics and air freight contracts in Italy.
With 11 sites accumulating 264,000 sqm of warehousing area, Fiege’s Italian operations produced 2012 revenues of circa €95 million (£81.4 million) and ran at a profit.
Furthermore, Dentressangle’s Italian logistics operations will generate an overall turnover of €220 million, operating 35 sites, offering 630,000 sqm of warehousing space, and employing 1,200 people.
Additionally, Dentressangle will gain Fiege Iberia and Fiege Iberia Operador’s Spanish and Portuguese operations.
The Iberian operations recorded 2012 revenues circa €34 million, with five multi-customer platforms, four specialist dedicated warehouses, and 20 cross-docking platforms, providing customers with contract logistics services for the transport of ambient, temperature-controlled and chilled goods, as well as services for dangerous goods.
Hervé Montjotin, CEO of Norbert Dentressangle, said: “This tactical acquisition will considerably strengthen the Southern region of the European footprint of our logistics business, since Italy and Iberia are crucial geographical components of Norbert Dentressangle’s pan-European network.”
