Gebrüder Weiss expands in Bulgaria
Austrian transportation and logistics services provider Gebrüder Weiss said it has inked a deal to acquire Rhenus Bulgaria, a Sofia-based peer it has already been partnering with, in a push to enhance its presence in Southeast Europe, according to a report by Gw-world.com.
The price tag of the deal, which hinges on regulatory clearance, remained undisclosed.
"Acquiring the customers and employees of Rhenus Bulgaria doubles the size of our long-standing and successful unit in Bulgaria and marks the next major step in our development," Gebrüder Weiss chief executive Wolfram Senger-Weiss noted in a press release published on Tuesday.
The business is being acquired from the German parent of the target company Rhenus Group, which is set to withdraw from the Bulgarian market upon completion of the divestment, Rhenus Group said in a separate statement.
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