The Danish logistics giant DSV has taken over the Deutsche Bahn (DB) subsidiary, DB Schenker, for EUR 14.3 billion. The completion of the transaction was announced today (30APR25). This creates the largest global logistics group by far in terms of turnover and market share. Deutsche Bahn intends to use the Schenker billions to pay off part of its debts of EUR 33 billion. Conversely, the state-owned rail company is losing one of its few profitable subsidiaries. In fiscal 2024, DB Schenker channeled around EUR 1 billion in surplus into DB’s coffers.
The sale of Schenker was highly controversial in German politics. This is because the country is losing an extremely profitable logistics pearl with thousands of employees and stations around the globe. The rebranding is to be completed in 2027. By then, the name of the well-known forwarding agent incepted 1872 by Gottfried Schenker in Vienna, Austria, will be history. A fate that has happened to UTI Worldwide, Agility, J. H. Bachmann, DFDS, and Panalpina, which were all taken over by the Danish Forwarder Alliance De Sammensluttede Vognmaend (DSV), and whose names have meanwhile vanished.
Customers will benefit, predicts DSV
With the acquisition, valued at EUR 14.3 billion, DSV is doubling its size and establishing the foundation for future sustainable growth, reads a press release. The combined company will have a revenue of approximately EUR 41.6 billion and a workforce of close to 160,000 employees across more than 90 countries.
The takeover of Schenker is a “transformative event” in the history of his company, stated Jens H. Lund, Group CEO, DSV: “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.” He went on to say that the competitiveness of all three divisions will be improved: Air & Sea, Road, and Solutions. Customers can expect to be provided with even higher service levels, innovative and seamless solutions, and flexibility for their supply chains.
Following the consolidation, air freight volumes will grow to 2.4 million tons, with DSV contributing 1,4 million tons and Schenker 1 million tons. Annual revenue is expected to exceed 41 billion and the jointly managed warehouse capacity will reach 17,7 million square meters.
Fiercer competition in trucking
For leading European trucking companies such as Wallenborn, Jan de Rijk or Georgi, in particular, the new market giant is likely to significantly increase road feeder competition. This is because the combined truck fleet of DSV and Schenker is now by far the largest in Europe.
Jochen Thewes, the current Schenker CEO, will not be appointed to the Management Board of the Danish Group. Instead, the 54-year-old is to be elected to DSV’s supervisory board at an extraordinary general meeting. On the occasion of the takeover, Thewes stated: “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.” This future will now take place within DSV.
Strong quarterly results
In Q1 2025, DSV’s Air & Sea Division continued its positive earnings growth driven by higher gross profit per unit, due to more value-added services per shipment. Gross profit per unit increased 5% in Q1, 2025 compared to the same period in 2024. Air and Ocean freight are expected to contribute 46% of the joint enterprise’s revenues, followed by Road (40%) and Contract Logistics (14%)
