Danish international shipping and logistics company, DFDS, has acquired a freight forwarding company.
DFDS has acquired ICT Logistics which was formed in 1997. DFDS owned 19.9 per cent of the shares since 2003.
Full ownership, according to DFDS, will strengthen and develop the company’s eastern European position, allowing it to expand more into the Baltics and surrounding countries.
Niklas Andersson, the Executive Vice President and Head of Logistics Division in DFDS, said: “ICT Logistics greatly improves our offering to customers trading with eastern Europe. The expansion of our logistics network also complements our Baltic ferry route network.”
ICT transports full- and part-loads between east and west Europe via road, air, sea, river, and rail. Services include oversize cargo, warehousing, distribution and customs clearance.
Headquartered in Denmark, ICT has other offices in Germany, Latvia, Lithuania, Romania, Russia, Ukraine, Germany, and the UK. It has a fleet of approx. 600 trailers and 20 trucks.
In other news, HSF Logistics is now a part of DFDS.
In January 2021, DFDS signed an agreement with the owners of HSF Logistics Group, one of Europe’s leading cold chain logistics providers, to acquire the shares in the company. On 14 September, the two companies completed the transaction of shares to make HSF Logistics Group a part of DFDS.
With a combined fleet of 1,350 trucks and over 8,000 trailers supported by an integrated ferry infrastructure in Europe and Turkey, DFDS’ combined company will be able to offer a joint customer network and new markets a unique service with efficient road and ferry transportation.
Martin Gade Gregersen, former CEO of HSF Logistics Group, is appointed Head of Cold Chain in DFDS. He is also appointed a member of DFDS’ Executive Management Team (EMT).
Effective 16 September, the Logistics Division is reorganised in two business areas: Dry Goods and Cold Chain. Cold chain activities in DFDS will be merged with cold chain activities from HSF Logistics Group. DFDS’ other logistics activities make up the Dry Goods business area.
The majority of the integration is expected to be completed within a year, except for the IT integration that is expected to take longer to complete. No material integration costs are expected.
Annual financial integration synergies, mainly from operation, procurement and process integration, are targeted to amount to around DKK 75m with a full run-rate impact from the end of 2023. Some of the impact is expected to be reported in the Ferry Division.