German logistics provider Dachser announced today it has bought a 10% minority stake in leadingSpanish freight and parcels transport company Azkar for an undisclosed sum in order to “stabilise”
their partnership which started in December 2006.The partnership had developed so well that the management of the two companies had decided tofurther stabilise their business relationship, Dachser said in a statement.
Joint managing director Michael Schilling explained: “Azkar is an important partner for us,which has just as high logistics demands as we do. We expect the partnership will reach a new levelof positive cooperation thanks to the financial holding.”
Azkar, with 5,000 staff and revenues of about €400 million in 2008, is one of the leadingSpanish freight transport companies and also a major player in the country’s B2B parcelsdistribution market. It recently took over Geodis Calberson’s business in the Iberian peninsula.
Dachser, with 18,000 staff and turnover of €3.5 billion in 2007, focuses on overland, air andsea freight transportation as well as contract logistics. It has expanded its overseas presencesignificantly over the past few years.
