Additional purchase
Rhenus Freight expands
Rhenus Freight is planning to take over the freight forwarding business and properties of L.W. Cretschmar at its headquarters in Düsseldorf on June 1. The Rhenus Group intends to use the acquisition to strengthen its market position in the Rhine-Ruhr region and ensure stabilization in the existing network.
The takeover includes the customer and business relationships belonging to the business unit as well as the employees of the forwarding, customs and sales divisions. The acquisition is subject to approval by the antitrust authorities.
"By taking over the Cretschmar Group's freight forwarding activities in Düsseldorf, we are expanding our market presence in the region and can further develop the range of services for our customers in particular. This also includes the chemical expertise of both companies, which we will be pooling," says Thilo Streck, Managing Director of Rhenus Road in Germany.
The family-owned company Cretschmar achieved a turnover of 103 million euros in 2018. Cretschmar is part of the System Alliance, Night Star Express and Kombiverkehr cooperations. "It is important to us to ensure the long-term security of supply of the large SME cooperations in the region," says Thilo Streck.
The Cretschmar Group will retain its forwarding activities in Neuss, Leipzig and Stuttgart under its current management and will remain active in the areas of contract logistics, overnight express, trade fair logistics, air and sea freight, including at the Düsseldorf location. "Our decision to sell is the result of the ongoing consolidation in the freight forwarding market. We are delighted to have found a buyer in the Rhenus Group, which also offers our transferring employees good prospects for the future," says Kay A. Espey, Managing Partner of L.W. Cretschmar. "Following the sale of the Düsseldorf forwarding activities, we would like to concentrate even more on expanding our other business activities, such as contract logistics in particular."
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