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The Korea Herald
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THE INVESTOR
June 16, 2024

Retail & Consumer

CJ Logistics seeks partner to acquire Schnellecke

  • PUBLISHED :August 13, 2018 - 15:26
  • UPDATED :August 14, 2018 - 10:22
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[THE INVESTOR] CJ Logistics is seeking a financial investor to form a consortium for acquiring German-based logistics firm Schnellecke, according to industry sources on Aug. 13.

CJ Logistics is reportedly discussing with some private equity firms about forming a consortium before sending its letter of intent to Schnellecke.




The Korea company currently has around 215.7 billion won (US$190.14 million) cash reserves that can be spent for acquiring Schnellecke, according to the company’s financial statement released in March. Since industry sources project the German company’s valuation at around 1 trillion won, it is inevitable for CJ Logistics to find a partner to win the mega deal.

Established in 1929, Schnellecke is a major logistics firm in Europe with sales last year reaching around 1.1 trillion won, while posting a net profit of 200 billion won. CJ Logistics hopes to expand its presence in the European market after the acquisition.

CJ Logistic had earlier partnership with PEF STIC Investment in 2015 to acquire Chinese firm Rokin Logistics. At the time, 143 billion won was funded by the consortium that the two companies established, out of the total 455 billion won.

By Song Seung-hyun (ssh@heraldcorp.com)

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