Deutsche Post AG has agreed to acquire German logistics company Hillebrand for about 1.5 billion euros ($1.8 billion).
The deal will boost Deutsche Post’s position in the ocean freight-forwarding market, the company said in a statement Aug. 17. It marks Deutsche Post’s biggest purchase since the 2005 acquisition of U.K. freight group Exel Plc for about $7 billion.
Hillebrand, which traces its roots back more than 175 years as a transporter of wine barrels, provides logistics services for the transportation of beverages and bulk liquids. It employs about 2,700 staff globally and generates annual revenue of 1.4 billion euros, according to its website.
