Under the terms of this transaction signed 12/11/2020, STEF Group will acquire five sites in Italy, Belgium and the Netherlands, with total turnover of approx. €95m and around 200 employees, subject to approval by the German competition authority.
Following this transaction, STEF Group and Nagel-Group will enter into distribution agreements – to enable Nagel Group to make use, for its operations in Italy, Belgium and the Netherlands, of the distribution network of STEF Group; and to enable STEF Group to offer its customers in these countries improved distribution services in Germany and Central/Northern Europe.
"This project was part of our strategic optimisation in Europe, in the course of which we are consistently concentrating on our strong business areas and their further development. For areas with low growth potential within our group, however, we were looking for interested and promising partners - as always, particularly in the interests of our employees and customers," said Carsten Taucke, CEO of the NagelGroup.
"Signing this agreement with the Nagel-Group marks an important milestone in our business development strategy. Integrating these five new sites will allow us to offer more added value to customers through our Belgian, Dutch and Italian networks while strengthening our presence in international transport services. We are eager to welcome the new employees on board and bring their expertise into the STEF Group," said Stanislas Lemor, CEO of the STEF Group.
Completion of the transaction is envisaged in January 2021.