Global logistics specialist, Rhenus Freight, is planning to take over the freight forwarding business and property of Düsseldorf-based company, L.W. Cretschmar.
The takeover, effective 1 June 2020, involves the customer and business relations associated with this part of the business as well as the employees working in the freight forwarding, customs and sales departments.
The acquisition still has to be approved by the cartel authorities.
The Rhenus Group is aiming to use this purchase to strengthen its market position in the Rhine/Ruhr region and guarantee stable operations in its current network structure.
“By taking over the freight forwarding activities of the Cretschmar Group in Düsseldorf, we’re expanding our market presence in the region and can particularly continue to develop our range of services for our customers,” said Thilo Streck, Managing Director of Rhenus Road in Germany. “This also includes the chemical expertise that is available at both companies, which we’ll pool.”
The Cretschmar family business generated turnover of €103 million in 2018. Cretschmar is part of the System Alliance, Night Star Express and Kombiverkehr cooperation schemes.
“It’s very important for us to safeguard reliable supplies for the major mid-sized cooperation schemes in the region in the long term,” said Streck.
The Cretschmar Group will maintain its freight forwarding activities in Neuss, Leipzig and Stuttgart with its current managers and will continue to operate in the third-party logistics, night express, trade fair logistics, air and sea freight areas – at its business site in Düsseldorf too.
“Our decision to sell is the result of the ongoing process of consolidation in the freight forwarding market,” said L.W. Cretschmar Managing Partner, Kay A. Espey. “We’re delighted to have found a purchaser in the Rhenus Group, which can offer our transferred employees good future prospects. We want to focus even more strongly on expanding our other corporate activities, in particular third-party logistics, after the sale of our freight forwarding activities in Düsseldorf.”
Founded in Düsseldorf in 1836, Cretschmar provides break bulk general cargo operations, part and complete loads, third-party logistics, night express services, trade fair logistics, air and sea freight as well as customs services. It particularly caters for the special needs of the chemical sector.
The Rhenus Group generates annual turnover of €5.5 billion and employs 33,000 people at 750 business sites. The Rhenus Group provides solutions for a wide variety of different sectors along the complete supply chain, including: multimodal transport operations, warehousing, customs clearance and innovative value-added services.