DSV Buys Schenker from Deutsche Bahn

DSV is acquiring Schenker from Deutsche Bahn in a landmark transaction valued at €14.3 billion (US$$16.87 billion). The deal is set to reshape the landscape of logistics, with the combined entity expected to generate pro forma revenues of about €39.3 billion, employing about 147,000 people across more than 90 countries.

“This is a transformative event in DSV’s history, and we are very excited to join forces with Schenker. With the acquisition we bring together two strong companies, creating a world-leading transport and logistics powerhouse that will benefit our employees, customers and shareholders,” says Jens Lund, CEO, DSV. 

This acquisition significantly enhances DSV’s global network, opening new markets and strengthening its competitive edge in an increasingly dynamic industry, says the company. The integration of Schenker’s extensive expertise and infrastructure will provide DSV with greater opportunities to serve its clients across all three of its divisions: Air and Sea, Road, and Solutions.

Germany will become a critical market for DSV following the acquisition. Schenker’s headquarters in Essen, Germany will remain a central hub for operations, with DSV planning investments of €1 billion in the country over the next three to five years. These investments will drive long-term growth, create new jobs, and promote modern, attractive workplaces. The combined workforce in Germany is expected to grow, surpassing the current number of employees at both Schenker and DSV within five years.

“DB Schenker is one of the most powerful and innovative teams in transportation and logistics with more than 150 years of experience. The recent years have been the most successful in our company’s history and we have proven that DB Schenker is fit for the future. We are excited about the future prospects of the combined business. Together with DSV, our goal is to transform the industry and build a truly global market leader with joint European roots for the best of our employees and our customers,” says Jochen Thewes, CEO, Schenker.

The transaction is contingent upon regulatory approvals, including those from Deutsche Bahn’s Supervisory Board and the German Federal Ministry for Digital and Transport, with final clearances anticipated by 2Q25. DSV plans to finance the acquisition through a combination of equity and debt financing, with between €4 billion and €5 billion expected to come from equity.

Until the transaction closes, DSV and Schenker will continue to operate as separate entities, maintaining business as usual.