Yusen Logistics has committed to acquire the healthcare logistics business of the Walden Group through the acquisition of the entire share capital of Movianto International by entering into a Put Option Agreement with Walden Group International.
Further to the completion of the consultation with the relevant works councils on this proposed transaction, which is compulsory under European law, Yusen Logistics and Walden will execute a Share Purchase Agreement based on the executed Put Option Agreement. Movianto will become a 100% subsidiary of Yusen post-acquisition subject to regulatory clearances. The purchase price will be approximately €1.25bn.
The healthcare logistics business of the Walden Group includes Movianto, Eurotranspharma, Transpharma International and Walden Digital*. Specializing in the healthcare industry, the business provides contract logistics, 4PL, first mile transportation and distribution services from 138 locations in 12 countries throughout Europe. Walden Digital has developed innovative technological solutions including a comprehensive end-to-end supply chain visibility platform, supporting and leveraging the group’s logistics and temperature-controlled transport capabilities.
Yusen Logistics Group has positioned healthcare logistics as a key growth area and has been strengthening its capabilities in medical and pharmaceutical logistics globally through its group companies. With the Walden healthcare operations joining the Yusen Logistics Group through this acquisition, not only will the scale of the healthcare logistics business in Europe dramatically increase, but the combination of its expertise and Yusen Logistics Group’s global network will also enable the provision of higher value-added services to a broader market.
NYK, Yusen Logistics’ parent company, has positioned logistics as a core business segment in its medium-term management plan announced in March 2023. This transaction follows its acquisition of an e-commerce logistics platform company in the UK in February 2024 and an auto parts logistics company in the Netherlands in April 2024, further enhancing its service offerings and significantly strengthening our business foundation.
* The companies subject to this acquisition are currently held by multiple intermediate holding companies under Walden. These entities will be reorganized prior to the transaction and Movianto will become the direct parent of the operating companies. It will have circa 5,400 employees.
