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DEUTSCHE Post DHL Group closed the acquisition of ocean freight forwarding specialist J.F. Hillebrand Group and its subsidiaries for €1.5 billion ($2.2 billion).

The companies had already signed the purchase agreement in August 2021.

Deutsche Post DHL Group CEO Frank Appel said the company can further strengthen its logistics core and benefit shareholders with profitable, long-term growth

“This bolt-on acquisition is a great opportunity for us to add a number of services to our high-quality ocean freight service portfolio, which will strengthen earnings and longstanding client relationships from the start,” he said.

Hillebrand is now part of DHL Global Forwarding, Freight under the leadership of Tim Scharwath, who will also head the combined businesses of Hillebrand and DHL Global Forwarding subsidiary Gori as its CEO.

Cees van Gent, who has managed Hillebrand since 2017, will step down as its CEO and chairman of the board and will leave the group.

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Hillebrand and Gori will work closely together, leveraging synergies from the extensive experience of both providers, especially in the logistics of beverages, beer, wine and spirits.

Gori, the wine and spirits sector specialist, has already been part of DHL Global Forwarding, Freight since 1998.

Mr Scharwath said the merger is a “perfect fit”.

“With Hillebrand and Gori running complementary business models, we expect a seamless integration,” he said.

“In combination with Gori we can leverage untapped synergies and develop even better transport solutions for our customers going forward.”

Hillebrand has extensive expertise in liquid logistics with a global footprint in more than 90 countries and more than 2700 employees. It specialises in the ocean freight forwarding of beer, wine, spirits and non-alcoholic beverages as well as other bulk liquids.

Hillebrand produces Flexitanks as part of its shipping service for liquid products.

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