DSV Panalpina has acquired Agility’s Global Integrated Logistics (GIL) in a deal valued at $4.2 billion.
GIL is one of the world’s top freight forwarding and contract logistics providers (3PL). In 2020, the company reported $4 billion in revenue, mainly related to air and sea freight and a workforce of approximately 17,000 employees.
With the acquisition of GIL, DSV Panalpina will become the world’s third largest transport and logistics company, with a combined pro forma revenue of approximately $22 billion, an increase of around 23 percent, while staff numbers will grow to more than 70,000 employees.
Jens Bjørn Andersen, chief executive officer, DSV Panalpina, commented: “GIL and DSV are an excellent match, and we are proud that we can announce our agreement to join forces.
“The combination of our two global networks will provide us with the opportunity to offer our customers an even higher service level.
“GIL’s strong market position in APAC and the Middle East complements DSV’s network well and will support our long-term value creation ambitions.
“Our two groups already share a culture of entrepreneurship and local ownership, and we look forward to welcoming GIL’s talented staff to DSV.”