Norbert Dentressangle has purchased the Italian, Spanish and Portuguese logistics operations of Fiege for an undisclosed amount.
By picking up Fiege Borruso and FLI spa, a pharmaceutical operation, in Italy, Norbert has doubled the size of its holdings in the country, making it the fourth largest logistics company in Italy. Fiege, which will still retain some logistics and air freight business in the country, generated Italian revenues of 95 million euros ($122.9 million) last year with the help of 510 employees. Norbert’s new revenue in Italy should reach 220 million euros. The company will now have 35 facilities spanning 630,000 square meters of warehouse space.
In Spain and Portugal, Norbert has acquired Fiege Iberia and Fiege Iberia Operador’s operations in the two countries. Last year, Fiege generated 34 million euros in revenue from the area, a result that Norbert will increase to 450 million euros in turnover.
“Our decision to continue to invest in the region reflects clients’ increased need for seamless and robust transport and logistics solutions and we are delighted that Norbert Dentressangle will be able to provide them with even greater efficiency while safeguarding its high quality standards,” the company’s chief executive officer, Herve Montjotin, said in a statement. “The leading market positions we are gaining and consolidating in these markets will enable us to rapidly increase critical mass in Southern Europe and to access larger business opportunities in a more systematic and successful way.” - Jon Ross