Geodis buys Germany's Rohde & Liesenfeld for 77 mln euro
French transport group Geodis said it has acquired its main freight forwarding partner Rohde & Leisenfeld of Germany for 77 mln eur, giving it an enterprise value of 90 mln.
R&L, which is expected to achieve 2007 net revenue of 270 mln eur, operates mainly in Germany (34 pct of revenue), Latin America (17 pct), South Africa (16 pct) and Australia/New Zealand (14 pct). It has 710 employees.
The acquisition of R&L will broaden the geographic reach of the Geodis Wilson network, which will gain a significant position in Germany, thereby making Geodis Wilson a major player in German freight forwarding, Geodis said.
