DSV Acquires UTi Worldwide Inc.
DSV’s acquisition of UTi Worldwide Inc. was completed in late January with the approval of UTi shareholders and competition authorities.
The transaction makes DSV Global Transport the fourth largest freight forwarder in the world by adding approximately 50 percent to DSV’s existing revenue. In addition, the new DSV has a more diversified geography and business mix as well as over 40,000 employees, operations in more than 80 countries, upwards of 1,000 offices and logistics facilities, and over 50 million square feet of warehousing space.
“I have no doubt that the combination of DSV and UTi is a recipe for success,” said Jens Bjørn Andersen, CEO of DSV. “With our united network, we will create exciting opportunities for both customers and employees. We will now start the integration process while taking care to maintain a high service level towards all customers. The commercial activities of DSV and UTi will continue under the DSV brand as we move forward.”
The transaction strengthened DSV’s global market position within air and sea transportation, making the company the world’s sixth and seventh largest operator within ocean and air freight, respectively. It also adds a global scale to the company’s contract logistics division, and expands its road freight and distribution activities to cover Europe, North America, Africa and Asia. The new DSV will also offer strong specialist skills in industry verticals such as automotive, healthcare, consumer and retail, chemicals, and energy.
“Due to the similarities in business, organization and culture as well as thorough preparations, we expect to be able to integrate the two companies quickly and smoothly,” said Anderson.
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