With DSV Panalpina’s latest acquisition, they surge to rank three among global forwarders. Agility’s Global Integrated Logistics business (GIL) has been formally welcomed into the folds of DSV’s massive forwarding network. This solidifies DSV’s position as one of the world’s foremost forwarders and follows a span of acquisitions by major players in the industry.
The transaction is valued to be around 20.5 billion USD and the combination of DSV and GIL would add up to a yearly revenue of ~25.2 billion USD. With DSV’s acquisition, Kuwait-based Agility is looking to become DSV Panalpina’s largest shareholder.
DSV’s acquisition is the perfect opportunity for the company to expand deeper into the Middle East and Asia-Pacific region.
“By adding the GIL network and competencies to our existing network, we improve our competitiveness across all three divisions: Air & Sea, Road and Solutions. This brings commercial synergies and cross-selling opportunities while at the same time providing our customers with an even higher service level and a one-stop-shop for logistics needs,” says Jens Bjørn Andersen.