Freight broker C.H. Robinson Worldwide Inc. has agreed to sell off its European surface transportation business to Sennder Technologies GmbH, a digital road freight forwarder based in Berlin, Germany, the firms announced today.
According to Minnesota-based C.H. Robinson, the move is part of a larger strategy “to get fit, fast, and focused and to drive focus on profitable growth in its four core modes – North American truckload and less-than-truckload and global ocean and air.”
However, the company also said that Europe remains an important strategic market, that it is still committed to its global forwarding and managed services presence there, and that it will continue to invest in key trade lanes, products, and technology within the region.
And from Sennder’s point of view, the deal accelerates its European expansion and increases its network density and digital capabilities, Sennder CEO David Nothacker said in a release. The company currently offers shippers access to 40,000 full truckload semis (known in Europe as 40-ton trucks) for its core business, and to a total of 120,000 vehicles when also counting smaller transport vehicles such as vans.
“This acquisition will be pivotal in advancing sennder’s roadmap,” Nothacker said. “With its vision to accelerate global trade to deliver products and goods that drive the world’s economy, C.H. Robinson aligns strongly with sennder’s mission and values to create an efficient and sustainable road freight network in Europe.”
Terms of the deal were not disclosed. But the move is Sennder’s latest step to expand through acquisition, following its deal in 2020 to buy a majority stake of Uber Freight’s European freight arm. Shortly after that deal, Sennder raised $160 million in venture backing from investors Accel, Lakestar, HV Capital, Project A, and Scania.
Editor's note: This article was revised on August 1 to add detail on the size of Sennder's network.
