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BREMER LAGERHAUS-GESELLSCHAFT -AKTIENGESELLSCHAFT VON 1877-

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Bremer Lagerhaus Geslschft Von 1877 : BLG takes over Kitzinger logistics group

05/08/2017 | 05:17am EST

May 8, 2017 With retroactive effect from the beginning of 2017, BLG LOGISTICS has taken over forwarding company Kitzinger & Co. (GmbH & Co. KG) as well as its subsidiary Arno Rosenlöcher (GmbH & Co. KG). Both companies have been well known on the market for many years under the umbrella brand KICO. Representatives of the two enterprises came together to sign the contract in Bremen on May 3. After takeovers in 2016, KICO is a key component in BLG's strategy of expanding its forwarding business.

The focus of the forwarding company is on marine and air freight, plus services relating to temperature-controlled transports. Customers in Germany and around the world hold KICO in high regard as a strong medium-sized enterprise. Eleven branches in Germany ensure good coverage of the whole country. They fit well into the existing BLG network and are located at strategically important customer markets. Strong international partners around the globe ensure compliance with the company's high quality standards. The full range of services is completed by national and international overland transports. Furthermore the company offers associated warehouse services provided by the subsidiary Arno Rosenlöcher. Founded in 1971 by Bringfried Kitzinger, the father of the current managing partner Björn Kitzinger, KICO is characterized above all by steady growth and closeness to customers. Due their competence and reliability, the 130 mostly longtime employees are highly regarded by customers and logistics partners.

Christian Marnetté, Head of the Forwarding Division at BLG LOGISTICS, says: 'The takeover of the Kitzinger group is a key step in further expanding our forwarding operations. It also gives us another strong pillar in our CONTRACT business area. We aim to achieve an even higher profile and penetration of the demanding market for forwarding services. KICO is a very valuable and important element in these plans.'

The current managing partner Björn Kitzinger explains: 'I'm delighted to be able to hand over to BLG the company my father and I built up to command its excellent market position today. KICO is our life's work. We've run the forwarding company with great commitment and success for 45 years. Now, with BLG, I've found the best possible partner to guarantee further development. I know I'm passing on our group along with its employees, customers, and partners into excellent hands.'

The transaction is still subject to approval by the antitrust authority.

BLG - Bremer Lagerhaus-Gesellschaft AG published this content on 08 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 08 May 2017 09:17:02 UTC.


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Sales 2020 1 065 M 1 206 M 1 206 M
Net income 2020 1,12 M 1,26 M 1,26 M
Net Debt 2020 854 M 967 M 967 M
P/E ratio 2020 41,3x
Yield 2020 0,92%
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Frank Dreeke Chairman-Management Board
Jens Bieniek Chief Financial Officer
Karl-Heinz Dammann Member-Supervisory Board
Karoline Linnert Member-Supervisory Board
Patrick Wendisch Member-Supervisory Board