Transport giant DSV Panalpina has made another major acquisition. The Danish company is acquiring Agility Global Integrated Logistics (GIL) for $4.2 billion.
The acquisition follows just two years after DSV incorporated Swiss counterpart Panalpina. That involved around EUR 4.1 billion. With GIL added, DSV says Panalpina will become the third-largest company in the logistics sector after DHL and KUEHNE + Nagel.
GIL, headquartered in Kuwait, gets most of its revenue from air and sea freight. That is precisely where DSV Panalpina wants to strengthen its position, with GIL posting sales of USD 4 billion by 2020. The company employs around 17,000 people. After the merger, DSV Panalpina has 70,000 employees.
