Geis Group has gained a 66 per cent stake in Austrian transport and logistics company, Quehenberger.
The German transport solutions business is taking over the shares retrospectively as of 1 January 2023. The remaining 34 per cent is held by the previous majority owner, Christian Fürstaller, who will continue to run the company as CEO and retain all its workforce.
Their combined service offering ranges from road freight transport and contract logistics to air and sea freight.
Geis Group’s managing partners Hans-Wolfgang Geis and Jochen Gris said in a joint statement that they will now focus on organic growth and use synergies to expand the business with plans to create a presence in central and south-eastern Europe.
With a total of more than 10,000 employees at approximately 200 locations in 13 countries the group of companies is hoping to become a leading logistics player in its markets.
The company said customers will benefit from this partnership as they will now get access to a much larger network that stretches from Luxembourg to the Black Seas and from the Baltic Sea to the Mediterranean.
Branches in Russia, Belarus, Kazakhstan and Ukraine were excluded from the takeover. These companies were spun off from the Augustin Quehenberger Group into a separate holding company, CF Logistics, in 2022.
In other news, international logistics provider, Yusen Logistics, recently launched a new hydrogen-powered transport service.