The European Commission has given the green light for the acquisition of Brabant-based Van der Lande by Toyota Industries. According to the commission, no competition concerns arise from the acquisition.
ANP reports. Vanderlande, a manufacturer of logistics transport systems, was acquired by Toyota Industries in March. With the acquisition, Japanese Toyota aims to enter the goods distribution market. A strategic move, given the popularity of e-commerce and the corresponding demand for e-fulfilment solutions.
Back in March, finance director Herman Molenaar announced that Vanderlande would continue to operate as an independent division from Veghel. The 4,500 people working at Vanderlande would keep their jobs. Molenaar in the NOS Journaal: "Toyota is buying us because our market is growing. Last year we hired seven hundred people. We expect to hire at least five hundred people again next year."
The acquisition involves €1.2 billion. NPM Capital is still major shareholder of Vanderlande, which records annual sales of one billion euros. Toyota Industries, the market leader in forklift trucks, recorded sales of almost 17 billion euros last year. The Japanese company has more than 51 thousand employees worldwide.
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