DFDS creates leading provider of cold chain logistics

Company announcement no. 4/2021

• Acquisition of HSF Logistics Group expands DFDS’ cold chain business to become the leading provider in Northern Europe
• HSF Logistics Group has revenue of DKK 2.8bn and 1,800 employees
• Enterprise value of DKK 2.2bn (EUR 296m)
• Transaction structure leaves DFDS’ financial leverage unchanged
• Investor and analyst call today at 10.00am CET

DFDS has today entered into an agreement to acquire 100% of HSF Logistics Group. The company is one of Europe’s leading cold chain logistics providers to meat producers and other food producers that operates temperature-controlled supply chains.

The Group operates four brands with HSF Logistics a leading brand in the Netherlands, Germany and the UK. N&K Spedition and Skive Køletransport are leading brands in Denmark and Scandinavia, together constituting around half of the revenue of the Group. Eurofresh is a brand focused on the German market.

The acquisition of HSF Logistics Group is aligned with DFDS’ Win23 strategy of growing solutions to selected industries, including cold chain logistics customers. Following the acquisition, the revenue of DFDS’ Logistics Division will increase to DKK 8bn of which around half will be generated by cold chain logistics.   

“I am very excited about the acquisition of HSF Logistics Group as it significantly expands our customer offering to a wide range of food producers. It also opens the door for new growth opportunities and adds freight volumes to our ferry route network”, says Torben Carlsen, CEO of DFDS.

“As part of the family that founded HSF Logistics nearly a hundred years ago in 1923, I am very happy to now become part of the DFDS family. Together, we can grow the business for the benefit of our many longstanding customers and our many loyal, dedicated employees”, says Simon Frederiks, major shareholder of HSF Logistics Group.

“By becoming part of DFDS we gain access to new growth opportunities. It enables us to offer customers wider market coverage and use our combined expertise to develop even more efficient and reliable solutions”, says Martin Gade Gregersen, CEO of HSF Logistics Group.

About HSF Logistics Group
HSF Logistics Group is a full-service provider of cold chain logistics solutions to the food industry with a specialist focus on meat logistics. Services include collection from food producers, packaging, storage, processing services, and distribution of both part and full loads.