Dachser to buy out Spanish partner Azkar to cover Iberian Peninsula

DACHSER plans to acquire the Spanish logistics provider, Azkar, subject to regulatory approval with expectation to complete the acquisition by January 15, 2013.

The company has held a 10 per cent stake in its logistics partner since 2008, which is one of the biggest Iberian logistics providers and a top business in the Spanish groupage segment. Azkar generated revenue of EUR367 million (US$482.7 million) in 2011 with a staff of 3,000 working in 91 branch offices. Additionally, the company is supported by 2,000 external drivers.

Following the acquisition the enterprise will continue to be headed up by Jose Antonio Orozco and the current management team. For the time being, the company will also continue to operate under the same name, a Dachser statement said.

Bernhard Simon, head of the management board, says the timing of the investment in Spain is also indicative of Dachser's confidence in Europe's future. The rationale behind the acquisition aims at securing the future growth of both companies.

Azkar operates at a profit despite the dire state of the Spanish economy. Dachser invests hundreds of millions of euros annually in the expansion and modernisation of its logistics network. These investments are expected in future to also benefit Azkar.

Dachser is already represented in Portugal with its own country organisation. The integration of both companies is intended to advance the company to where it becomes the country's leading logistics provider.

"The historical similarities in the evolution of both companies are remarkable," says Dachser's chief executive Bernhard Simon. He points out that both companies were founded almost simultaneously in the early 1930s, "Our corporate business models have seen very similar developments in key areas." As well as the full-coverage branch office network across the Iberian Peninsula, Azkar's strong position in contract logistics also ties in well with Dachser's strategic orientation.

Jose Antonio Orozco pointed out that the two companies have enjoyed a close partnership since 2007. Within the scope of this cooperation, both companies have increased their respective revenue in the groupage segment to and from Spain by over 20 per cent annually.

"In economic terms, the cooperation has definitely paid off. What's more, the past five years have also shown that we have a very similar mindset and way of doing business. Our corporate culture corresponds ideally with the values that Dachser as a family enterprise stands for," said Mr Orozco.