Norbert Dentressangle completes acquisition of TDG
Norbert Dentressangle's buyout of transport and logistics business TDG has been approved by European competition authorities.
Norbert agreed to pay €241 million (£212m) for Laxey Logistics, the holding company that owns TDG, in November last year – a move which Norbert says will accelerate its growth and international expansion plans.
TDG will be consolidated in Norbert Dentressangle's financial statements from 1 April 2011.
The deal boosts Norbert Dentressangle's size to 33,000 employees and increases pro-forma 2010 revenue to €3.6 billion, with 57% coming from outside France. Three quarters of TDG's £700m revenue in 2010 came from the UK.
