Deutsche Post DHL Group has signed an agreement to acquire up to 100 per cent of J.F. Hillebrand Group and its subsidiaries at an equity value of around €1.5 billion. 

Hillebrand is a global service provider specialised in ocean freight forwarding, transport and logistics of beverages, non-hazardous bulk liquids and other products that require special care. 

Hillebrand generated revenue of around €1.4 billion in the last twelve months, will ship c.500,000 TEUs in 2021, and has more than 2700 employees worldwide.

Frank Appel, CEO Deutsche Post DHL Group said: "With the growing maturity of our freight forwarding business, this bolt-on acquisition of Hillebrand is highly complementary to our existing portfolio. In line with our Group Strategy, we strengthen our core logistics business and deliver profitable long-term growth.

"Using our financial strength, we are able to pursue quality investments while reinforcing our unchanged commitment to deliver on investor return expectations."