Deutsche Post DHL will sell off ITG, a German logistics business specialising in lifestyle,fashion and related sectors, it was announced today.
ITG will be acquired by LGI Logistics Group International, part of the Kajo Neukirchen Group,for an undisclosed sum. An agreement was signed on May 29 and the deal is expected to close at theend of June, subject to approval by the relevant authorities. ITG was acquired by DP DHL in 1999during its wave of acquisitions in the international express and freight industries.
With some 1,000 staff at nine locations in Germany and several foreign branches, ITG is a majorprovider of international logistics and freight forwarding services, including air, ocean and roadfreight, to various sectors. In particular, it serves fashion and lifestyle companies includingbeauty & cosmetics, sports & shoes and lifestyle goods. The company generated sales of €151million in 2012.
LGI, part of Hewlett-Packard until 1995, said the acquisition is an ideal supplement to itsexisting portfolio of services. LGI is a full-service logistics provider focusing on theautomotive, electronics, industrial, and healthcare sectors, with more than 2,300 staff at 30locations in Europe. It had turnover of €245 million last year.
From a geographical perspective as well, the business activities of ITG and LGI are a perfectfit, according to the company. In addition to the international locations of LGI, ITG is present athubs like Amsterdam, Rotterdam, Boston, and Moscow and collaborates additionally with agents inmore than 200 locations in 90 countries.
Under the new owner LGI, ITG will continue to operate as an independent company and brand.Existing locations and personnel will be unaffected by the transaction.
Dr. Andreas Bunz, CEO of LGI, said: “The acquisition is an excellent example of a strategicallymeaningful transaction. The business models of LGI and ITG are a natural fit. With thisacquisition, we will be able to offer our customers even greater performance and service from asingle source while setting a course for international growth.”
Andreas Weiss, CEO of ITG, added: “ITG will remain an independent company with its ownmanagement. We look forward to collaborating with the management of LGI. Together we will expandour leadership position in the German and international logistics sector.”
