Hamburg-based intralogistics pioneer Jungheinrich is fully taking over Magazino, a Munich-based robotics specialist, to broaden its product portfolio for logistics operators, retailers and other customers.
In addition to its shareholding, which has existed since 2020 and was increased to 21.7% in 2022, Jungheinrich is acquiring all shares held by the founders as well as the previous co-shareholders, a.o. Cellcom, Fiege Logistik, and Körber. The parties have agreed not to disclose the purchase price.
Growth strategy
Magazino will continue to grow as an independent company within Jungheinrich and also in particular make use of the group's global sales and service network. The company will remain under the management of both Co-Founders Frederik Brantner and Lukas Zanger as well as Dr. Moritz Tenorth.
Founded in 2014, Magazino employs around 130 people and has one of the largest mobile robotics development teams in Europe. The company offers a powerful technology platform that enables logistics robots to also operate in a mixed human-machine environment.
As a result, robots are able to intelligently navigate in the warehouse as well as selectively pick up and transport needed objects. Magazino's system and robots are already in use in warehouses of various industrial customers, online retailers and logistics service providers.
Product integration
For Jungheinrich, the full takeover of Magazino is another strategically important step towards strengthening its automation expertise. The control software for robots in complex logistics environments is also already integrated in Jungheinrich's EAEa, a fully automated low-lift truck that was initially presented at this year's LogiMAT intralogistics trade fair.
Going forward, Magazino's software and development expertise will be even more closely integrated into Jungheinrich's product development. Magazino gains access to Jungheinrich's international sales and service network and becomes part of a broad portfolio of intralogistics products and solutions. The Magazino brand will be retained and the company will continue to work with external integration partners and customers.
“Right chemistry”
“We've been working closely with Magazino for several years now, we are on par with each other and communicate well. The chemistry is simply right. Now we are taking the next logical step in our cooperation and acquire Magazino in full”, said Dr. Lars Brzoska, Chairman of the Board of Management of Jungheinrich.
“Magazino is a successful company with a very good management and top experts in the market. It has outstanding software competencies and has developed solutions that have the potential to shape the future of intralogistics in the long term. In the Group, we will leverage these competencies to jointly drive the further development of innovative automation and robotics solutions.”
Growing automation demand
Frederik Brantner, CEO and Co-Founder of Magazino: “The need for warehouse automation is growing constantly. By steering robots in this complex environment, we have developed a unique expertise that we want to further expand.
“We would like to thank our previous investors for the trust they have placed in us and for the many years of successful cooperation. They have supported us strategically and financially to date and have made a significant contribution to the further development of our business. Together we have laid the foundation for the next chapter in Magazino's success story. With Jungheinrich, we will continue to extend our intralogistics technology leadership and also expand internationally.”
