Danish maritime giant DFDS has recently finalized an agreement to acquire Ekol Logistics, a Turkish company specializing in the transportation of goods between Europe and Türkiye. This strategic move by DFDS marks a significant expansion into the realm of road transport, complementing its existing Mediterranean ferry network.
DFDS anticipates substantial growth in transportation volumes between Türkiye and Europe, projecting a robust annual increase of 14% until 2028, particularly driven by the surge in nearshoring projects. The acquisition deal, valued at 260 million euros, is currently awaiting approval, expected in Q4 2024, pending compliance with EU merger regulations. Notably, the Turkish Competition Authority granted approval for the merger back in July 2023.
According to DFDS, Ekol Logistics reported a revenue of 470 million euros for the fiscal year 2023. However, their EBIT margin for the same period experienced a decline of 4.8% compared to 2022. One of the primary objectives of this merger is to restore the EBIT margin to approximately 5% by 2027.
