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DFDS seals Ekol deal

[ April 9, 2024   //   ]

DFDS has signed an agreement to acquire the international transport network of Turkey’s Ekol Logistics.

Ekol operates extensive services between its home country and Europe with own offices and facilities in ten countries by road or intermodally using ferry, and rail and is the largest customer of DFDS’ Mediterranean ferry route network.

The two companies set up a partnership in 2019 whereby DFDS provided stable access to ferry capacity to DFDS. The agreement also extends access to third-party rail transport from arrival ports to select European destinations.

Ekol will become part of DFDS’s Logistics Division and IT systems will be integrated over the next three years.

DFDS chief executive, Torben Carlsen said: “This acquisition is an excellent strategic match for DFDS. Transporting large trailer volumes reliably and efficiently using combinations of road, ferry, and rail is our core business. Moreover, we believe Türkiye’s role as a manufacturing hub for Europe will become even stronger in the future as nearshoring drives supply chains closer to end markets.”

Ekol Logistics founder and chair of the board, Ahmet Musul, added: “This combination has the potential to make the transport infrastructure between Türkiye and Europe more efficient and help raise Türkiye’s attractiveness as a manufacturing hub further.”

DFDS says that the Türkiye-Europe transport market is on average expected to grow by around 14% annually until 2028 and the acquisition expands its network to a high-growth region.

Completion of the transaction is conditional upon EU merger control approval and has already been approved by the Turkish Competition Authority. Closing is expected around the beginning of the fourth quarter of 2024.

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