Geodis buying network partner R&L

Geodis buying network partner R&L France’s Geodis will soon expand its forwarding portfolio after agreeing to buy Rohde & Liesenfeld for 77 million euros ($109.6 million).
   Germany-based international air and sea freight forwarding group R&L has been Geodis’ main network partner since 2002 with operations in its homeland, as well as Latin America, South Africa and Australasia. It has 710 employees worldwide and is forecast to generate net revenue (excluding Customs revenue) of 270 million euros ($384.1 million) for 2007.
   This latest transaction follows Geodis’ takeover in February of TNT Freight Management (renamed Geodis Wilson) from Dutch postal and express group TNT for 460 million euros.
   “The acquisition of R&L will broaden the geographic reach of the Geodis Wilson network, which will gain a significant position in Germany,” Geodis said in a statement.
   “This acquisition will also enable Geodis to serve new international markets — particularly South Africa, where R&L is well established — and substantially deepen its presence in Latin America. In addition, the group will benefit from R&L's expertise in handling industrial projects, especially in the oil and gas industry.”
   Pending regulatory approval, the transaction to be completed at the start of 2008.