Maersk buys B2C Europe for $86m
Logistics giant Maersk has acquired European Logistics company B2C for $86m.
B2C specialises in European logistics for business to consumer deliveries.
The acquisition of B2C Europe will allow Maersk to offer Europe-wide last mile rates to customers in Europe, North America, and China through one interface.
B2C’s offering consists of labelling services, pick-ups, sorting parcels, line haul, and injection into the last mile delivery network of more than 100 connected carriers across Europe, including full returns logistics covering 35 European countries.
The value of the transaction is USD 86m post IFRS 16 which corresponds to an EV/EBITDA of 11x reflecting the strong growth outlook and synergies. Based on 2021-forecast the revenue is estimated to around USD 140m and with a post- IFRS 16 EBITDA of around USD 8m reflecting a margin of 5.7pct.
José Vega Vázquez, CEO of B2C said: “We look very much forward to the journey ahead. We put on the table expertise and skills which will enable Maersk´s customers to take full control and drive flexibility into their B2C supply chains.”
Vincent Clerc Executive Vice President and CEO of Ocean & Logistics, A.P. Moller – Maersk added: “With B2C Europe, we are closing the circle around our E-commerce logistics expansion. Our logistics product line-up growth continues to support our long-term plans to help customers sell through any sales channel, deliver in any way, and manage their supply chains seamlessly.
This year, by adding Visible SCM, HUUB and now B2C Europe´s capabilities we set out the foundation to upscale our platform and E-commerce skills globally, building product returns cycle´s defining B2C supply chain success.”