DSV buys Irish companies
DSV Air & Sea Holding, a unit of Danish freight forwarder and logistics group DSV, has bought Irish firms Campbell Freight Agencies Ltd. and Campbell Freight Agencies (Ireland) Ltd. The acquisition price has been withheld.
DSV has bought all the shares in the holding company Lileagh Properties Ltd., which holds the Northern Ireland-based Campbell Freight Agencies Ltd. from Alan Campbell and Mary Campbell.
DSV has also signed an agreement with Alan Campbell, Ivor Miller and Steade Ltd. on the former’s acquisition of all the shares in the holding company Groupex Freight Services Ltd., which holds Campbell Freight Agencies (Ireland) Ltd., based in the Republic of Ireland.
Campbell Freight Agencies Ltd. has an expected annual revenue of '18 million ($35.7 million) while Campbell Freight Agencies (Ireland) Ltd. has an expected annual revenue of 9 million euros ($12.1 million).
“DSV Air & Sea has acquired the two enterprises to strengthen its global air and sea activities in general, and in particular to create a stronger platform in Northern Ireland and the Republic of Ireland,” DSV said in a statement.
Both acquisitions were completed Wednesday with DSV consolidating the companies immediately. The acquisitions are not subject to approval from any authorities or any other approvals.
DSV said that it would integrate both companies in the DSV Air & Sea division with synergies expected to be fully implemented within a two-year period.