Rhenus acquires Hungarian forwarder
Rhenus consolidates its foothold in Central-East Europe by acquiring Hungarian freight forwarder ITS Logistics Hungary KFT, just a few months after the successful integration of Croatian logistics provider Trans Integral d.o.o. This new development emphasizes just how committed Rhenus is to provide high-quality logistics solutions that meet the evolving needs of its customers across the region.
ITS Logistics Hungary KFT has been a long-time partner of Rhenus, successfully collaborating on numerous projects and building a strong professional relationship. The acquisition marks the next step in the partnership and conveys a joint resolution to combine strengths, resources and expertise for the overall benefit of the customers.
"We are very excited about the opportunities this acquisition brings and look forward to welcoming ITS Logistics Hungary KFT into the Rhenus family”, says Patrick Schäffer, CEO of Rhenus Air & Ocean Central-East Europe. “This move will enable us to better serve our customers' needs, particularly in relation to air freight services, while also expanding our reach in the Hungarian market.”
Managing Director of ITS Logistics Hungary KFT, Peter Kuzma, adds: "Becoming part of the Rhenus Group marks the beginning of an exciting new journey for our company. We are keen on further developing the business and setting the stage for our customers, business partners and employees alike to grow as well”.
ITS Logistics Hungary KFT is a well-established Hungarian freight forwarding company with more than ten years of experience in providing comprehensive transportation and warehousing services to customers across various industries. Based in Vecsés, just on the outskirts of the capital Budapest, it is mainly focused on air freight forwarding services and customs clearance operations. Sea freight, road freight and rail freight are also part of the service portfolio.
Although the acquisition is signed, a mandatory Foreign Direct Investments (FDI) screening is still pending. This is common in Hungary for acquisitions of this size and can take up to two months.