Orrick advised forwarding business and logistics group Cretschmar Cargo on the sale of its freight forwarding transport activities at the business site in Düsseldorf to Rhenus Group.
The sale includes the customers and business relationships belonging to Cretschmar Group’s Düsseldorf-based forwarding business as well as the employees of the forwarding, customs and sales departments. With the takeover planned for June 01, 2020, Rhenus Group aims to strengthen its market position in the Rhine-Ruhr region, while Cretschmar Group intends to concentrate on expanding its other business activities, such as contract logistics in particular.
The transaction is subject to approval from the antitrust authorities.
Cretschmar Group is a Düsseldorf (Germany) headquartered owner-managed, internationally positioned forwarding and logistics group with a comprehensive range of services, with further operations in the German cities of Neuss, Leipzig and Stuttgart and about 480 employees. The company offers general cargo system transports, partial and complete transports, contract logistics, overnight express, fair logistics, air and sea freight as well as customs services with a special focus on the chemical industry.
Rhenus Group is one of the leading, globally operating logistics service providers with an annual turnover of 5.5 billion euros. Rhenus Group provides logistics solutions for a variety of industries, including multimodal transportation, warehousing, customs clearance and innovative value-added services. The company has 33,000 employees at 750 locations.
Cretschmar Group was advised by an Orrick team led by Düsseldorf-based M&A and private equity partner Dr. Wilhelm Nolting-Hauff. The Orrick team further included counsel Dr. Felix Schäfer (real estate, Düsseldorf) and associate Onur Öztürk (M&A and private equity, Düsseldorf).