Denmark’s DSV acquires Panalpina

Copenhagen, Denmark: Denmark’s DSV has completed the acquisition of Swiss logistics group Panalpina, creating the world’s fourth largest freight-forwarding company.

The combination of DSV and Panalpina’s air and sea freight operations will create the world’s fourth biggest freight-forwarding company, with only DHL Logistics, Kuehne & Nagel and DB Schenker now bigger.

DSV chief executive Jens Bjorn Andersen said: “Our two companies will achieve more together, creating even more value for all our stakeholders,” he said.

The new company will be called ‘DSV Panalpina A/S’, pending approval at an extraordinary general meeting.

Panalpina accepted a bid from DSV in April.

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