EU clears acquisition of HSF Logistics Group by DFDS
The EU Commission has approved the acquisition of Dutch cold chain logistics provider HSF Logistics Group by Danish ferry and logistics company DFDS.
“The Commission concluded that the proposed acquisition would raise no competition concerns, given that the companies’ market shares for freight forwarding are moderate and a number of strong competitors will remain after the transaction,” the European Commission said in a statement.
“The Commission also investigated whether DFDS could restrict the access of competing freight forwarders to its ferries in order to favour its own freight forwarding business following the transaction. However, the Commission concluded that this would be unlikely because of alternative routes available to competing freight forwarders that transport their cargoes.”
In late January 2021, DFDS revealed it would buy HSF Logistics Group for DKK 2.2 billion (EUR 296 million).
Specifically, under the deal, the shareholders of the HSF Logistics Group agreed to transfer all companies belonging to the HSF Logistics Group to Copenhagen-based DFDS with retroactive effect from 1 January 2021. With this transfer of shares, all of HSF’s 1,800-plus employees will join DFDS, and all real estate including 750 trucks and 1,500 trailers will be transferred.
The closing of the transaction is expected to be completed on 14 September 2021, DFDS said.
HSF Logistics Group is one of Europe’s leading cold chain logistics providers to meat producers and other food producers that operate temperature-controlled supply chains.
The integration is expected to generate both commercial and cost synergies as well as synergies from the addition of volumes to DFDS’ transport infrastructure of ferry routes and ports.
Back in 2019, DFDS also acquired Finnish logistics company Freeco Logistics and Dutch logistics firm Huisman Group BV.