C.H. Robinson Announces Agreement to Sell its European Surface Transportation Business to sennder Technologies GmbH
C.H. Robinson (CHRW) has announced the sale of its European Surface Transportation (EST) business to sennder Technologies GmbH, a leading digital road freight forwarder in Europe. This strategic move aligns with C.H. Robinson's enterprise strategy to focus on its four core modes: North American truckload, less-than-truckload, global ocean, and air. The company remains committed to its global forwarding and managed services presence in Europe.
The transaction is expected to close in Q4 2024, subject to customary conditions and regulatory approvals. This acquisition will enhance sennder's growth opportunities and improve service offerings and digital capabilities. C.H. Robinson will continue to invest in key trade lanes, products, and technology within the European region through its Global Forwarding and TMC teams.
C.H. Robinson (CHRW) ha annunciato la vendita della sua attività di Trasporto Superficiale Europeo (EST) a sennder Technologies GmbH, un importante spedizioniere di merci su strada digitale in Europa. Questa mossa strategica si allinea con la strategia aziendale di C.H. Robinson, che si concentra sui quattro principali modalità: carico completo nordamericano, carico parziale, trasporto marittimo globale e aereo. L'azienda rimane impegnata nella sua presenza nel settore della spedizione globale e dei servizi gestiti in Europa.
Si prevede che la transazione si chiuderà nel Q4 2024, soggetta a condizioni consuete e approvazioni normative. Questa acquisizione migliorerà le opportunità di crescita di sennder e migliorerà l'offerta di servizi e le capacità digitali. C.H. Robinson continuerà a investire in importanti rotte commerciali, prodotti e tecnologia nella regione europea attraverso i suoi team di Global Forwarding e TMC.
C.H. Robinson (CHRW) ha anunciado la venta de su negocio de Transporte Terrestre Europeo (EST) a sennder Technologies GmbH, un destacado transitario digital de mercancías por carretera en Europa. Este movimiento estratégico se alinea con la estrategia empresarial de C.H. Robinson para centrarse en sus cuatro modos principales: carga completa en América del Norte, carga parcial, transporte marítimo global y aéreo. La empresa se mantiene comprometida con su presencia en el forwarding global y los servicios gestionados en Europa.
Se espera que la transacción se cierre en el Q4 2024, sujeta a condiciones habituales y aprobaciones regulatorias. Esta adquisición mejorará las oportunidades de crecimiento de sennder y mejorará la oferta de servicios y capacidades digitales. C.H. Robinson continuará invirtiendo en rutas comerciales clave, productos y tecnología dentro de la región europea a través de sus equipos de Global Forwarding y TMC.
C.H. Robinson (CHRW)는 유럽 수송(Europa Surface Transportation, EST) 사업부를 유럽의 선도적인 디지털 도로 화물 운송업체인 sennder Technologies GmbH에 매각한다고 발표했습니다. 이 전략적 움직임은 C.H. Robinson의 네 가지 핵심 분야: 북미 화물차량, 부분 화물, 글로벌 해상, 항공에 초점을 맞춘 기업 전략과 일치합니다. 회사는 유럽에서 글로벌 포워딩 및 관리 서비스의 존재에 전념하고 있습니다.
이번 거래는 2024년 4분기에 완료될 것으로 예상되며, 일반적인 조건과 규제 승인을 받습니다. 이 인수는 sennder의 성장 기회를 높이고 서비스 제공 및 디지털 능력을 향상시킬 것입니다. C.H. Robinson은 유럽 지역 내에서 Global Forwarding 및 TMC 팀을 통해 주요 무역로, 제품 및 기술에 계속 투자할 것입니다.
C.H. Robinson (CHRW) a annoncé la vente de son activité de Transport Terrestre Européen (EST) à sennder Technologies GmbH, un leader des transitaire numérique de fret routier en Europe. Cette décision stratégique s'inscrit dans la stratégie d'entreprise de C.H. Robinson, qui se concentre sur ses quatre modes principaux : chargement complet nord-américain, chargement partiel, transport maritime mondial et aérien. L'entreprise reste engagée à maintenir sa présence dans le forwarding global et les services gérés en Europe.
La transaction devrait être finalisée au Q4 2024, sous réserve des conditions habituelles et des autorisations réglementaires. Cette acquisition améliorera les opportunités de croissance de sennder et améliorera l'offre de services ainsi que les capacités numériques. C.H. Robinson continuera à investir dans des voies commerciales clés, des produits et des technologies au sein de la région européenne à travers ses équipes de Global Forwarding et TMC.
C.H. Robinson (CHRW) hat den Verkauf seines Geschäfts für Europäische Oberflächenbeförderung (EST) an sennder Technologies GmbH angekündigt, einen führenden digitalen Straßenlogistiker in Europa. Dieser strategische Schritt steht im Einklang mit der Unternehmensstrategie von C.H. Robinson, sich auf seine vier Kernbereiche: nordamerikanische Komplettladungen, Teilladungen, globalen Seetransport und Luftfracht zu konzentrieren. Das Unternehmen bleibt verpflichtet, seine Präsenz im globalen Versand und in verwalteten Dienstleistungen in Europa aufrechtzuerhalten.
Die Transaktion wird voraussichtlich im Q4 2024 abgeschlossen, sofern die üblichen Bedingungen und behördlichen Genehmigungen eingehalten werden. Diese Akquisition wird die Wachstumschancen von sennder verbessern und das Serviceangebot sowie die digitalen Fähigkeiten erweitern. C.H. Robinson wird weiterhin in wichtige Handelsrouten, Produkte und Technologien innerhalb der europäischen Region durch seine Teams für Global Forwarding und TMC investieren.
- Strategic focus on core business modes expected to drive profitable growth
- Continued investment in European Global Forwarding and TMC teams
- Potential for improved operational efficiency and resource allocation
- Divestment of a long-held subsidiary (EST) since 1994
- Potential loss of market share in European surface transportation
C.H. Robinson's decision to sell its European Surface Transportation (EST) business to sennder Technologies GmbH marks a significant strategic shift for the global logistics leader. This move aligns with the company's "fit, fast and focused" strategy, aiming to streamline operations and concentrate on its core business segments.
Key financial implications include:
- Potential for improved profitability: By divesting a non-core asset, C.H. Robinson can reallocate resources to its four primary modes: North American truckload, less-than-truckload, global ocean and air freight. This focus could lead to enhanced operational efficiency and potentially higher margins.
- Short-term impact on revenue: The sale will likely result in a temporary decrease in total revenue, as the EST business contributed to the company's top line. However, this may be offset by improved profitability in core segments over time.
- Balance sheet effects: While the terms of the deal were not disclosed, the transaction could potentially strengthen C.H. Robinson's balance sheet, providing additional capital for reinvestment or shareholder returns.
Investors should monitor the company's performance post-divestiture to assess the effectiveness of this strategic realignment. The transaction's closing, expected in Q4 2024, provides ample time for the market to digest this information and for C.H. Robinson to prepare for the transition.
The sale of C.H. Robinson's European Surface Transportation (EST) business to sennder Technologies represents a significant reshaping of the European logistics landscape. This move has several industry-wide implications:
- Consolidation in the European market: sennder's acquisition of EST will create a more formidable player in the European road freight sector, potentially leading to increased competition and efficiency in the market.
- Digital transformation acceleration: sennder, known for its digital freight forwarding platform, will likely integrate its technology with EST's operations. This could spur faster digitalization across the European logistics industry, pushing competitors to enhance their technological capabilities.
- Shift in competitive dynamics: C.H. Robinson's exit from European surface transportation allows the company to focus on its global forwarding and managed services in the region. This specialization could intensify competition in these specific segments.
The transaction also highlights the growing importance of digital-first logistics providers like sennder in the industry. Traditional players may need to reassess their strategies to compete effectively in this evolving landscape. For shippers and carriers, this consolidation could lead to improved service offerings and potentially more competitive pricing in the European market.
Driving Strategic Focus on its Core Business
“To win, we need to focus on what sets us apart and build upon our competitive advantages,” said C.H. Robinson President and CEO Dave Bozeman. “Europe remains an important strategic market for us, and we are committed to our global forwarding and managed services presence there. This clarity of investment in the region is important for the long-term success of our business and employees as well as the value and impact we can offer our customers and carriers. I am convinced that sennder will be a great home for the EST business and will provide good continuity of service to EST customers.”
As an employer of choice in
Through this transaction, the EST operations of C.H. Robinson will become part of sennder, unlocking significant growth opportunities for both companies and delivering improved service offerings and digital capabilities.
David Nothacker, CEO of sennder, said, “This acquisition will be pivotal in advancing sennder’s roadmap. With its vision to accelerate global trade to deliver products and goods that drive the world’s economy, C.H. Robinson aligns strongly with sennder’s mission and values to create an efficient and sustainable road freight network in
C.H. Robinson is working closely with all groups to ensure a smooth transition that maintains the high standards of service that both C.H. Robinson and sennder's customers and employees have come to expect.
EST has been a subsidiary of C.H. Robinson since 1994 and provides transportation and logistics services, including truckload and LTL transportation services, across
The closing of the transaction is subject to certain customary conditions and regulatory approvals and is expected to close in the fourth quarter of 2024. C.H. Robinson will not have further comments until its second quarter 2024 earnings conference call that is scheduled for Wednesday, July 31, 2024 at 5:00 p.m. Eastern Time.
Morgan Stanley & Co. LLC acted as C.H. Robinson’s financial advisor and HVG Law B.V. acted as its legal advisor. Terms of the transaction are not disclosed.
About C.H. Robinson
C.H. Robinson is one of the original logistics leaders. Companies around the world look to us to reimagine supply chains, advance freight technology, and solve logistics challenges—from the simple to the most complex. Over 90,000 customers and 450,000 contract carriers in our network trust us to manage
About sennder
sennder, a leading digital road freight forwarder in
CHRW-IR
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FOR MEDIA INQUIRIES, CONTACT:
Kelsey Soby, Sr. Dir. of Communications & Marketing
Email: PublicRelations@chrobinson.com
FOR INVESTOR INQUIRIES, CONTACT:
Chuck Ives, Director of Investor Relations
Email: chuck.ives@chrobinson.com
FOR SENNDER MEDIA INQUIRIES, CONTACT:
Marisa Wagner, Kekst CNC
Email: press@sennder.com
+49 1525 437 2777
Source: C.H. Robinson
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