Deutsche Post World Net completes Exel acquisition

Deutsche Post World Net has completed the acquisition of UK logistics company Exel plc, becoming the global No. 1 in sea freight, ocean freight and contract logistics.

Just a month after Exel's shareholders welcomed the offer, the company's equity capital was transferred in its entirety to Deutsche Post World Net. The combination of the two companies creates a group with some 500,000 people and about €55 billion (Lm23.6 billion) in annual sales.

"This acquisition marks a historic step for Deutsche Post World Net," DPWN CEO Klaus Zumwinkel said. "By bringing together these two powerful, high-quality organisations, we are creating the largest logistics company in the world.

"Our group will set the future pace in the forwarding and supply chain industries, enabling us to serve even better the global needs of our customers

"The transaction has been carried out in a very positive and constructive atmosphere. Within a very short time, our two management teams have developed a deep understanding and mutual trust. Our top priority now is to combine DHL Logistics and Exel in a rapid and efficient manner."

The future structure of Deutsche Post World Net's enlarged logistics division has already been confirmed and top management positions filled. Exel CEO John Allan will run the combined division, which will employ around 150,000 people, be headquartered in Bracknell, near London, and operate under the DHL brand.