Acquisition of long-standing partner’s Bulgarian business doubles the Austrian logistics group’s scale in the country.
The international logistics company Gebrüder Weiss is strengthening its position in southeast Europe by taking over the business of Rhenus Bulgaria, with the acquisition of its long-standing partner’s Bulgarian business doubling the size of Austria-headquartered freight forwarding and logistics group in the country.
The purchase agreement was recently signed in Sofia, and the acquisition awaits approval by the antitrust authorities, Gebrüder Weiss said, noting that Rhenus “has been a long-standing partner of Gebrüder Weiss in many countries and is now withdrawing from the Bulgarian market in the Road segment”.
Wolfram Senger-Weiss, CEO of Gebrüder Weiss, commented: “Acquiring the customers and employees of Rhenus Bulgaria doubles the size of our long-standing and successful unit in Bulgaria and marks the next major step in our development.
“We are able to significantly expand our presence in the Bulgarian market for international freight forwarding and logistics and strengthen our distribution network with additional locations. This acquisition represents our entry into the Home Delivery area in Bulgaria and expands our geographic coverage in the region.”
Rhenus has been operating many years in the capital Sofia and also has a distribution network with other branches in Plovdiv on the Thracian plain and in the port of Varna on the Black Sea – “the most important transport hub serving as a gateway to the country’s northeast”, Gebrüder Weiss highlighted.
The acquisition includes the locations in Sofia, Burgas, Svilengrad, Varna and Plovdiv. The management team of Rhenus Bulgaria “will aid in the process of transferring the business”, Gebrüder Weiss said, with all of Rhenus Bulgaria’s roughly 100 employees becoming Gebrüder Weiss employees.
Gebrüder Weiss has been active in Bulgaria since 1993. At its two locations in Sofia (Elin Pelin) and Varna, the logistics company offers services in land transport, air and sea freight, as well as logistics solutions.
The range of services will be expanded in the future by entering the Home Delivery segment, thanks to the purchase of Rhenus Bulgaria. Gebrüder Weiss is already a market leader in several countries in Central and Southeast Europe in end-customer delivery, the company said.
“Taking over the business activities and employees of Rhenus Bulgaria adds yet another layer to Gebrüder Weiss’ high level of expertise in Eastern Europe,” the company said. “Immediately after the borders had opened, the logistics company expanded from Central Europe towards the east, meaning that it now has a dense network of locations spread throughout Southeast Europe.”
Alexander Gechev, managing director of Rhenus Bulgaria, commented: “We are very pleased to have found a long-standing partner in Gebrüder Weiss, who will continue running the Rhenus locations in Bulgaria together with the existing employees with success.”
With more than 7,400 employees, 170 company-owned locations and a provisional annual turnover of €1.77 billion (2020), Gebrüder Weiss ranks among Europe’s leading transport and logistics companies, including core business areas of land transport, air & sea freight, and logistics, plus various specialised industry solutions.
Source: Lloyd´s
