Germany’s Rhenus Group has agreed to acquire the mainland European activities of UK-based Wincanton Group, it has been announced.
Wincanton’s German and French businesses generate revenues of approximately €550 million and employ 3,000 people. The companies’ activities are predominantly in contract logistics and intermodal transportation.
Rhenus said the acquisition will enable it to build upon its product portfolio in continental Europe, especially in port logistics and contract logistics. The integration of Rhenus and Wincanton on the European mainland will also enable Rhenus to enhance its range of services and provide customers with better solutions to their logistics challenges, Rhenus said.
Wincanton said the sale will conclude the restructuring of its mainland European businesses, allowing it to now focus on developing its position in the UK and Ireland market, where it sees significant potential for growth. The company said it will work closely with Rhenus to ensure that service quality is maintained during the transition period.
The transaction is subject to approval by Wincanton shareholders, to anti-trust clearance and regulatory approvals.
Rhenus is one of Europe’s leading logistics services providers, with an annual turnover of €3 billion. The group employs 18,000 people at more than 290 locations worldwide.
