- With the acquisition of 60% of Transportes El Mosca, Logista consolidates its position as one of the largest Spanish logistics companies and ranks second in temperature-controlled full load transport in Spain.
- Enters the complementary business of maritime transport.
- Expands its service offering with value-added logistics for the fruit & vegetable sector.
- Expects to obtain synergies through the combination with Logista’s businesses.
Logista, one of the largest logistics operators in Southern Europe, announces the acquisition of 60% of Transportes El Mosca, Spanish company specialised in the transport and warehousing of goods as well as frozen or refrigerated transport, mainly for the food industry. Additionally, Transportes El Mosca has consolidated its position as a national and international maritime transport company, with high specialization both for the treatment of dry goods and controlled temperature.
Family-owned company founded in 1936, Transportes El Mosca, headquartered in Molina de Segura (Murcia) has a fleet of more than 1,000 vehicles, employs about 1,100 workers, has a network of 12 national and international delegations that add up to more than 50,000 sqm of warehouses and recorded sales in 2021 of approximately 250 million euros and EBITDA of 25 million euros. More than 60% of Sales comes from international activity.
Transportes El Mosca offers national and international intermodal transport services by road, sea and air, as well as frozen or refrigerated transport. The fleet of vehicles helps to ensure service quality, while providing flexibility to respond quickly to customer needs. At a time of increasing difficulty to access new fleet capacity, this transaction transforms Logista’s service offering.
The main destination markets for the international road transport activity are United Kingdom, Germany, Portugal, France, The Netherlands and Italy and the main clients are food producers and large food retailers.
In maritime transport, the main international markets are China, the United States and Canada, in addition to some countries in Central and South America, Middle and Far East. Most of the clients of this line of business also belong to the food sector.
Through this acquisition, Logista expands its services portfolio, incorporating complementary capabilities in controlled temperature. For example, the maritime transport of refrigerated containers to the Balearic and Canary Islands or international markets, as well as a groupage service especially focused on the fruit & vegetable sector. Logista, which is already one of the largest Spanish transport companies, thus strengthens its position in national and international transport for the food industry and the pharmaceutical industry and becomes the second largest operator in the temperature controlled full load transport sector in Spain.
The combination of capabilities of the two groups will also allow the generation of synergies with the international full load business (Logista Freight) through the combination of premium outbound and inbound traffic.
The agreement reached contemplates the purchase of 60% of the capital of the Company, which will be paid with cash, for a maximum price of 106 million euros. The acquisition of the remaining 40% will be over the course of the next three years. The net financial debt at the end of 2021 amounted to approximately 23 million euros. Closing of the transaction is expected to occur around September/October 2022, once the necessary authorizations and approvals have been received from national authorities and the European Union.
Íñigo Meirás, CEO of Logista has commented: “I am pleased to announce the acquisition of Transportes El Mosca, which marks a transformational step for our transport division. This transaction is consistent with our announced diversification and growth strategy. With Transportes El Mosca we are strengthening Logista's position in temperature-controlled transport in Spain, extending it internationally and complementing our existing capabilities in added-value services to customers. Among the new capabilities we are adding, I would highlight national and international maritime transport. The complementary nature of their operations with those of Logista represents a great growth opportunity and of value creation for our shareholders”.
About Logista – www.logista.com
Logista is one of the largest logistics operators in Southern Europe and is specialized in distribution to proximity channels. It regularly serves nearly 200,000 points of sale in Spain, France, Italy, Portugal, The Netherlands and Poland and provides the best and fastest market access to a wide range of convenience products, pharmaceuticals, electronic recharging, books, publications, tobacco and lotteries, among others. Logista has a team of highly qualified professionals comprising 5,900 direct employees and 15,000 collaborators, focused on serving its customers in the most efficient way and adapted to their needs.
Commitment to Sustainability
Logista has been included for the sixth consecutive year on CDP's "A List", which recognises global leaders in the fight against climate change. Logista is the only European retailer to make the list for six consecutive years. CDP also recognises Logista's work as a driver of sustainable change throughout its value chain and has included Logista as a Supplier Engagement Leader.
Furthermore, Logista's firm commitment to sustainability has been recognised in October 2021 by Sustainalytics, one of the leaders in the evaluation of Corporate Social Responsibility and Corporate Governance worldwide, which, after evaluating the Company's ESG criteria, has awarded it an ESG risk rating of 14.1 points, meaning that it is considered to be at Low Risk of experiencing material financial impacts due to ESG factors and has awarded it accreditation as Industry TOP RATED 2022 (among the 50 best ratings in the Transport industry).
Also, because of its firm commitment to Corporate Social Responsibility, Logista has managed, for yet another year, to position itself among the leaders in the sector by being recognised in 2021 with an MSCI rating of AA, whose scale is AAA-CCC.
Logista is also part of the FTSE4Good index, which includes companies that demonstrate sound environmental, social, and corporate governance practices, and the Ibex Gender Equality index.
About Logista Freight – www.logistafreight.com
Logista Freight is the Logista company specialized in long-distance transport. It has one of the most extensive, specialized and technologically advanced infrastructure and transport networks on the continent.
The Company manages a fleet of more than 1,400 vehicles and provides services in all EU countries. It performs local customer management thanks to the network of its own subsidiaries located in Spain, Portugal, Italy, France, Germany, Romania and Poland.
Logista Freight has state-of-the-art on-board equipment, a revolutionary integration of safety and temperature control systems, and its own technological platform that optimizes routes to minimize empty kilometers and thus reduce the carbon footprint
About Logista Parcel – www.logistaparcel.com
Logista Parcel is Logista's reference network in controlled temperature capillary transport for the pharmaceutical and food sectors in Spain and Portugal. Logista Parcel has a fleet of more than to 1,700 vehicles and more than 2,000 collaborators, as well as a network of 64 delegations in Spain, Portugal and Andorra.
Logista Parcel's commitment to quality extends to the use of the most advanced information technologies, safety and commitment to the environment.
About Transportes El Mosca – www.elmosca.es
Transportes El Mosca is a Spanish logistics company, specialized in multimodal transport that offers national and international land, sea and air transport services. It has a fleet of more than 1,000 vehicles and employs almost 1,100 employees spread across its 12 national and international delegations.
Transportes El Mosca has a high specialization both in the treatment of dry goods and in controlled temperature (especially perishable product), frozen, ambient and dangerous, in full load and groupage.
Experts in the maritime transport of goods, with extensive national and international experience and with its own teams in practically all national ports, Transportes El Mosca has established itself as a reference in this segment.
In the Air Transport division, with the Adolfo Suárez Madrid-Barajas hub as a point of reference, Transportes El Mosca exports and imports merchandise, mainly perishable food, all over the world.
Automation, Digitization, Traceability and Sustainability are the main levers with which Transportes El Mosca has been supporting its business growth and consolidation.