Brussels, 24 November 2021
On the 24th of November, the European Commission approved, under the EU Merger Regulation, the acquisition by DP World of sole control of syncreon Newco B.V. (syncreon).
Back in July, DP World announced the acquisition of syncreon for an enterprise value of US$1.2 billion. The US based global logistics provider, is specialized in the design and operation of complex supply chains for the high growth automotive and technology industries. syncreon provides specialized value-added warehousing and distribution solutions through a variety of manufacturing, export packaging, transportation management, reverse/repair and fulfilment services.
The group focuses on two key segments. Firstly, large technology customers to enable eCommerce and omni-channel fulfilment and aftermarket services, and secondly automotive companies for reception of materials, warehousing, inventory management, kitting/sequencing for line feeding, and export packaging. This is complemented by a growing presence serving customers in Consumer Goods, Healthcare and Industrial Markets.