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Nov 16, 2020 at 7:30 AMThe transaction allows the Nagel Group to continue the strategic optimization of its network and focus even more on its core markets. In return, the STEF Group strengthens its presence and network in the three countries.
(Paris/Versmold) As part of the transaction signed on November 12, 2020, the STEF Group will acquire five locations in Italy, Belgium, and the Netherlands with a total revenue of €95 million and around 200 employees, subject to approval by the Federal Cartel Office.
As a result of the transaction, STEF Group and Nagel Group will enter into distribution agreements. This will allow the Nagel Group to utilize the local distribution network of the STEF Group for its transport operations in Italy, Belgium, and the Netherlands, while the STEF Group can offer improved distribution services in Germany and Central/Northern Europe to its customers from these countries.
Part of the strategic optimization
“This project has been part of our strategic optimization in Europe. In this context, we are consistently focusing on our strong business areas and their further development. For areas with low growth potential within our company, we have sought interested and promising partners – as always, particularly in the interest of our employees and customers,” says Carsten Taucke, CEO of the Nagel Group.
“The signing of the contract with the Nagel Group is an important milestone in our business development strategy. The integration of these five new locations will enable us to provide added value to our customers in our Belgian, Dutch, and Italian networks while strengthening our presence in international traffic to Germany. We look forward to welcoming the new employees on board and bringing their expertise into the STEF Group,” says Stanislas Lemor, CEO of the STEF Group.
The sale is expected to be completed in January 2021.
Belgium
In Belgium, the location in Nazareth, south of Ghent, is situated in a region with high production and consumption, making it a perfect fit for the STEF network in Belgium, which already includes three locations in Saintes and Courcelles as well as a partnership in Liège. With 3,100 m² designated for the transport of chilled products, the site will enhance regional coverage and group transport for the agricultural and food industry and national distributors.
Netherlands
In the Netherlands, the location in Raalte offers a total area of 5,000 m² and will strengthen the STEF network in the country, which already has three locations in Bodegraven, Eindhoven, and Raalte. The expertise of the site in international transport will help unlock the full export potential of the agricultural and food industry and national distributors targeting other European countries.
Italy
In Italy, the location in Nogarole Rocca in the Verona region offers unique expertise for comprehensive transport and group transport to Germany, the UK, and Eastern Europe for the agricultural and food industry and national distributors. The three locations provide 3,700 m² of chilled storage space, 1,800 m² of dry storage, and 200 m² of frozen storage, thus covering the entire demand for business development in northeastern Italy.
About the STEF Group
STEF is the European market leader in temperature-controlled (-25°C to +15°C) transport and logistics services. Its mission: to ensure the connection between producers and distributors of food. STEF operates in 7 countries and employs 19,000 employees who work daily to provide tailored solutions to food manufacturers, retail chains, and out-of-home catering providers in a sustainable manner. In 2019, the group achieved a revenue of over 3 billion euros. The STEF share is listed on Euronext Paris.
About the Nagel Group
The Nagel Group, which specializes in food logistics and operates across Europe, is based in Versmold and employs around 13,000 people at more than 130 locations. Recently, the company generated a revenue of 2.1 billion euros. The group moves food daily in all shipment sizes and temperature classes. Whether frozen products, meat, dairy products, coffee, or confectionery – day by day, the Nagel Group contributes on behalf of industry and trade to ensure that consumers across Europe find the right goods at the right time and in the right quality at the point of sale. In this way, the Nagel Group makes a significant contribution to the success of its customers.
Photo: © Nagel Group
