B2C Europe: We look very much forward to the journey ahead
Based in The Netherlands, B2C Europe is a 20-year-old- European logistics company focused on business to consumer (B2C) parcel delivery services in Europe with a focus on cross-border deliveries. Maersk announced its intent to acquire B2C Europe on August 6th, 2021.
This acquisition strengthens A.P. Moller – Maersk’s E-commerce Logistics products suite in line with its strategic business transformation.
Vincent Clerc, Executive Vice President and CEO of Ocean & Logistics, A.P. Moller – Maersk commented: “With B2C Europe, we are closing the circle around our E-commerce logistics expansion. Our logistics product line-up growth continues to support our long-term plans to help customers sell through any sales channel, deliver in any way, and manage their supply chains seamlessly. This year, by adding Visible SCM, HUUB and now B2C Europe´s capabilities we set out the foundation to upscale our platform and E-commerce skills globally, building product returns cycle´s defining B2C supply chain success.”
The acquisition of B2C Europe will enable Maersk to offer Europe-wide last mile rates to customers in Europe, North America and China through one simplified interface. B2C Europe will bring an asset-light delivery product that uses technical integrations to collect parcels at its customers warehouses and inject them into all important European carrier networks.
José Vega Vázquez, B2C Europe´s CEO said: “We look very much forward to the journey ahead. We put on the table expertise and skills which will enable Maersk´s customers to take full control and drive flexibility into their B2C supply chains.”
The company’s offering consists of labelling services, pick-ups, sorting parcels, linehaul and injection into the last mile delivery network of 100+ connected carriers across Europe, including full returns logistics mainly covering 35 European countries. B2C Europe is operationally present in four key European E-commerce countries (Netherlands, France, United Kingdom, and Spain), and has offices in China.
The value of the transaction is USD 86m post IFRS 16 which corresponds to an EV/EBITDA of 11x reflecting the strong growth outlook and synergies. Based on 2021-forecast the revenue is estimated to around USD 140m and with a post- IFRS 16 EBITDA of around USD 8m reflecting a margin of 5.7pct.
In the course of 2021, Maersk has expanded its E-commerce footprint with the acquisition of the US- based logistics company Visible MSC mid-August and five weeks after the acquisition of the Portuguese cloud-based logistics start-up, HUUB.