C.H. Robinson Announces Agreement to Sell its European Surface Transportation Business to sennder Technologies GmbH
July 30 2024 - 3:00AM
Business Wire
Driving Strategic Focus on its Core
Business
Global logistics leader, C.H. Robinson Worldwide, Inc. (“C.H.
Robinson” or the “Company”) (Nasdaq: CHRW) announced today that it
has made the strategic decision to sell its European Surface
Transportation business (EST) to sennder Technologies GmbH, the
leading digital road freight forwarder in Europe (“sennder”). This
move is part of the Company's enterprise strategy to get fit, fast
and focused and to drive focus on profitable growth in its four
core modes – North American truckload and less-than-truckload and
global ocean and air – as the engines to create the most value for
its stakeholders.
“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 Europe and a global,
industry-leading logistics provider, C.H. Robinson remains focused
on delivering customer value through exceptional service and
innovative solutions from its European Global Forwarding and TMC
teams. The Company will continue to invest in key trade lanes,
products, and technology within the region.
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 Europe. We are deeply impressed by the European
Surface Transportation team from C.H. Robinson, and with our
combined business and enhanced talent pool, we can deliver
substantial growth and operational scale, accelerating our European
expansion and increasing network density and digital capabilities
for the benefit of carriers, shippers, and the wider industry. We
are excited to welcome the EST team, and embark on the next chapter
of sennder’s journey.”
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 Europe.
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 $22 billion in
freight annually. Through our unmatched expertise, unrivaled scale,
and tailored solutions, we ensure the seamless delivery of goods
across industries and continents via truckload,
less-than-truckload, ocean, air, and beyond. As a responsible
global citizen, we make supply chains more sustainable and proudly
contribute millions to the causes that matter most to our
employees. For more information, visit us at chrobinson.com
(Nasdaq: CHRW).
About sennder
sennder, a leading digital road freight forwarder in Europe, is
offering shippers access to a connected fleet of thousands of
trucks. In a traditional industry, sennder is moving fast and
focuses on the digitization and automation of all road logistics
processes. sennder deploys over 40,000 trucks across Europe, with
access to more than 120,000 vehicles, and has a team of over 1,000
people. By leveraging its proprietary technology, sennder is
creating an ecosystem that leads the industry into the 21st century
with enhanced transparency, efficiency, and flexibility, as well as
advanced sustainable transport solutions. sennder is backed by some
of Europe’s leading investors including Baillie Gifford, Accel, HV
Capital and Lakestar along with industry experts Poste Italiane and
Scania to assure innovation and state of the art offerings.
CHRW-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20240730654304/en/
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
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