COMPANY ANNOUNCEMENT no. 35 - |
- Acquisition of
McBurney Transport Group - The Group has revenue of
DKK 1.3bn and over 800 employees - Transaction enterprise value of
DKK 1.2bn (GBP 138m ) - Accretive for ROIC (vs 8% target) and earnings per share from closing
- Financial leverage increase of 0.1x
DFDS has today entered into an agreement to acquire 100% of
The majority of cold chain goods are moved for food producers and retailers requiring high reliability and efficiency. Warehousing, distribution, and other logistics services are also provided.
The acquisition of
“The acquisition of
“By becoming part of DFDS we gain access to new development opportunities. I am certain the wider market coverage, including access to DFDS’ extensive transport network, will benefit our many longstanding customers. I am confident that our many loyal and dedicated employees will be comfortable and happy after this transaction”, says
About
The core activity of McBurney is the transport of full and part-load trailers between island of
McBurney is headquartered in
Operating under the name Bondelivery, McBurney also owns a 10,000 m2 ambient warehouse in
McBurney is an asset-backed transport provider to ensure the reliability, flexibility, and efficiency required by food producers and the retail sector. The company has over 800 employees and operates around 400 trucks and 1,360 trailers of which 955 are refrigerated trailers. The majority of the equipment is owned.
In 2021, McBurney’s revenue was
Strategic fit
The acquisition is aligned with DFDS’ strategy of growing solutions within cold chain logistics. The acquisition also develops and expands DFDS’ transport network that is focused on moving goods in trailers by road, rail, and ferry.
McBurney will become part of the Logistics Division’s Cold Chain business unit. The integration of McBurney is expected to generate synergies. Expected synergies and an integration plan will be disclosed in connection with the closing of the transaction.
Transaction structure and financing
DFDS acquires McBurney for a debt-free price of
The transaction is expected to increase DFDS’ financial leverage, NIBD/EBITDA, by 0.1x on a pro forma basis.
The transaction is expected to be ROIC accretive vs DFDS’ 8% minimum after tax return target and to be accretive to earnings per share (EPS) from closing.
Closing of the transaction is subject to regulatory approval.
Contact
Søren Brøndholt Nielsen, IR +45 33 42 33 59
About DFDS
DFDS provides ferry and transport services in and around
To over 10,000 freight customers, we deliver high reliability through ferry & port terminal services and transport & logistics solutions.
For millions of passengers, we provide safe overnight and short sea ferry services.
Our 11,000 employees are located on ferries, terminals, distribution centres, and in offices across more than 20 countries. DFDS was founded in 1866, headquartered in
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Attachment
- DFDS_NO_35_29_12_2022_ACQUISTION_McBURNEY
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