STINNESÆ SCHENKER TO ACQUIRE FRENCH LOGISTICS GROUP
Stinnes subsidiary Schenker said it will acquire the French Joyau logistics group. Terms of the deal were not disclosed.
Joyau is one of the leading logistics service providers in France, with annual sales of about 250 million euro, and about 2,500 employees in 53 locations.
Schenker has operated as a logistics service provider in France from about 30 locations with about 900 employees.
Initially, Joyau will continue to operate under its own brand name in the market while it is fully integrated into Schenker's organization.
Stinnes, which was acquired this month by DB Group, will be developed into an international logistics division of Deutsche Bahn. With annual sales of 12 billion euro, Stinnes has 43,000 employees and about 1,300 locations.