German temperature-controlled specialist 3PL the Nagel-Group it to sell its operations in Belgium, the Netherlands and Italy to French 3PL STEF Group
STEF Group will acquire five sites in Italy, Belgium and the Netherlands, with total turnover of approximately €95 million (£85.3 million) and around 200 employees, subject to approval by the German competition authority. It does not affect the Nagel Group activities in the UK.
Following the sale 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.
Stanislas Lemor, Chief Executive of the STEF Group, said: “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.”
The transaction is expected to be completed by January 2021.
