CH Robinson Sells European Brokerage to Sennder
C.H. Robinson announced the divestiture of its European Surface Transportation (EST) operations to Sennder Technologies GmbH, the leading digital road freight forwarder in Europe (“sennder”). This move is part of the Company’s enterprise strategy to get fit, fast and focused and to drive focus on profitable growth in its four core modes – North American truckload and less-than-truckload and global ocean and air – as the engines to create the most value for its stakeholders. The price of the transaction was not disclosed by C.H. Robinson in its statement announcing the sale.
“To win, we need to focus on what sets us apart and build upon our competitive advantages,” said C.H. Robinson President and CEO Dave Bozeman. “Europe remains an important strategic market for us, and we are committed to our global forwarding and managed services presence there. This clarity of investment in the region is important for the long-term success of our business and employees as well as the value and impact we can offer our customers and carriers. I am convinced that sennder will be a great home for the EST business and will provide good continuity of service to EST customers.”
Through this transaction, the EST operations of C.H. Robinson will become part of sennder, unlocking significant growth opportunities for both companies and delivering improved service offerings and digital capabilities.
David Nothacker, CEO of sennder, said, “This acquisition will be pivotal in advancing sennder’s roadmap. With its vision to accelerate global trade to deliver products and goods that drive the world’s economy, C.H. Robinson aligns strongly with sennder’s mission and values to create an efficient and sustainable road freight network in Europe. We are deeply impressed by the European Surface Transportation team from C.H. Robinson, and with our combined business and enhanced talent pool, we can deliver substantial growth and operational scale, accelerating our European expansion and increasing network density and digital capabilities for the benefit of carriers, shippers, and the wider industry. We are excited to welcome the EST team, and embark on the next chapter of sennder’s journey.”
C.H. Robinson is working closely with all groups to ensure a smooth transition that maintains the high standards of service that both C.H. Robinson and sennder’s customers and employees have come to expect.
EST has been a subsidiary of C.H. Robinson since 1994 and provides transportation and logistics services, including truckload and LTL transportation services, across Europe.
The closing of the transaction is subject to certain customary conditions and regulatory approvals and is expected to close in the fourth quarter of 2024. C.H. Robinson will not have further comments until its second quarter 2024 earnings conference call that is scheduled for Wednesday, July 31, 2024 at 5:00 p.m. Eastern Time.
