Target: Bakker Logistiek
Advisory sell side: Deloitte | Corporate Finance
Deloitte | Legal Advisory
Deloitte | Tax Advisory
Buyer: STEF Group
Advisory buy side: Lexence | Legal Advisory
EY | Financial Due Diligence
Date announced: 2023-10-30

French transportation powerhouse STEF [EPA:STF] has officially signed an agreement on October 26th to acquire Bakker Logistiek, a well-established family-owned enterprise. The completion of this transaction is contingent upon approval from the ACM, the Dutch competition authority, along with customary regulatory consultation procedures. The anticipated closing date is set for the first quarter of 2024.

Bakker Logistiek is a distinguished provider of transport, logistics, and packaging services specializing in food products, both ambient and chilled, within the Netherlands. The company boasts a dedicated workforce of 1,400 employees and operates a fleet of 325 vehicles, generating an impressive global turnover of EUR 150 million.

This strategic acquisition marks a significant milestone in STEF's expansion strategy. It is set to fortify the company's territorial coverage across all of the Netherlands' production and consumption hubs. Additionally, the integration of Bakker Logistiek's expertise will broaden the range of services in transport, logistics, and packaging tailored specifically for food products. This development will undoubtedly amplify the value proposition for all stakeholders in the Dutch food supply chain, including food manufacturers and retailers.

Bakker Logistiek, a distinguished fourth-generation family enterprise, specializes in the transportation, logistics, and packaging of food products (ambient and chilled) within the Netherlands. As one of the largest temperature-controlled companies in the country, Bakker Logistiek operates with a workforce of 1,400 employees and maintains a fleet of 325 vehicles, achieving an impressive global turnover of EUR 150 million. Their extensive portfolio encompasses six sites in three strategic locations: Zeewolde, Tilburg, and Heerenveen, comprising a total area of 170,000 square meters with 205,000 pallet spaces.

Since establishing a presence in the Netherlands in 2014, STEF has excelled in providing specialized transport and logistics services for food products (chilled and frozen). STEF Nederland, the Dutch arm of the group, boasts 400 dedicated employees and operates with a fleet of over 100 vehicles. The company's operations are strategically located across four sites in three key locations: Bodegraven, Eindhoven, and Raalte.

Christophe Gorin, General Manager Northern Europe at STEF Group, expressed his enthusiasm for the agreement with Bakker Logistiek, emphasizing its alignment with their core strategy as a dedicated player in the food supply chain. The merger is underpinned by the multitude of synergies and complementary strengths inherent in both organizations, as well as the recognized expertise of their teams. This union will empower them to offer an even more comprehensive range of services to support their customers in both national and international expansion efforts.

Jan Prins, CEO of Bakker Logistiek, conveyed his pride in the company's growth over the years, crediting their dedicated employees for building such a remarkable organization. With STEF's acquisition, Bakker Logistiek takes a significant stride toward realizing their national and international ambitions. Customers will gain access to an expansive and professional network in the Netherlands and throughout Europe, further solidifying Bakker Logistiek's position as a reliable and sustainable chain partner in the food sector.