with the acquisition of DB Schenker Germany will become a pivotal market for DSV post-acquisition, with significant operational impacts.
DSV has announced the acquisition of DB Schenker from Deutsche Bahn for an enterprise value of €14.3 billion. This acquisition is set to enhance DSV’s global network, operational expertise, and market competitiveness, benefiting employees, customers, and investors alike. this deal will make DSV’s biggest transaction to date.
Upon completion, the merged entity will have an anticipated pro-forma revenue of approximately €39.3 billion based on 2023 figures and a combined workforce of around 147,000 employees across more than 90 countries.
Germany will become a pivotal market for DSV post-acquisition, with significant operational impacts. Central functions, including those at Schenker’s Essen location, will remain in Germany. DSV plans to invest €1 billion in the German market over the next 3-5 years to drive long-term growth, create jobs, and foster modern work environments. The combined organization is projected to employ more people in Germany five years post-acquisition than the current total workforce of both companies.
Jens H. Lund, Group CEO of DSV, described the acquisition as a transformative milestone, stating, “This is a transformative event in DSV’s history. This merger will create a world-leading transport and logistics powerhouse, enhancing our capabilities across air & sea, road, and solutions divisions. As well as enhancing our commercial platform across DSV, the acquisition will elevate our commercial platform and deliver superior service levels, innovative solutions, and enhanced flexibility to our customers’ supply chains.”
Jochen Thewes, chief executive, DB Schenker, emphasized the alignment of the companies’ strengths and the opportunity to drive industry transformation together. “With over 150 years of experience, DB Schenker has demonstrated its future-readiness. Partnering with DSV will enable us to build a global market leader with strong European roots, benefiting our employees and customers.”
As part of the acquisition terms, DSV has committed to maintaining existing collective agreements and individual employment conditions for Schenker employees in Germany for up to two years post-closing. The company will adhere to German co-determination principles during this period.
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The transaction is expected to finalize in the second quarter of 2025, with DSV planning to finance the acquisition through a combination of equity and debt financing, estimated at €4-5 billion.
