Sennder Acquires CH Robinson’s European Division

The digital freight platform, Sennder, a German logistics juggernaut, has recently announced a significant expansion. On Tuesday, it revealed it’s securing the European surface transportation branch of the logistics behemoth C.H. Robinson through a cash transaction. While the specific financials of the transaction weren’t disclosed, informed sources via TechCrunch suggest it’s comparable to Sennder’s 2020 acquisition of Uber’s European freight operations.

The earlier acquisition with Uber was a stock-based deal estimated to be around €900 million then.

C.H. Robinson, regarded as the world’s second-largest logistics provider following Amazon, has a current market capitalization of over $10 billion. This acquisition is poised to double Sennder’s yearly revenue, reaching €1.4 billion and elevating the company’s status to amongst Europe’s top five in full truck load (FTL) services, with a combined workforce of 1,700 across 20 countries.

This marks Sennder’s second major move involving C.H. Robinson, having previously enticed their head of engineering, Kollen Glynn, to join as its CTO.

In its quest for expansion, Sennder also added Netherlands-based Cars&Cargo to its portfolio in 2021, although the purchase price remains undisclosed.

These strategic acquisitions occurred during a peak period for e-commerce and technology markets, fueled by the COVID-19 pandemic which escalated online shopping habits due to extended home stays.

Sennder capitalized on this surge, raising $160 million in January 2021 followed by another $80 million in June 2021, elevating its valuation to beyond the $1 billion mark.

Amidst a more frugal tech and e-commerce sector, Sennder’s latest acquisition is particularly noteworthy. It signifies a larger trend of consolidation, with well-resourced companies acquiring assets to achieve greater scale, while others divest to streamline operations and focus on their core business.

Expected to finalize in the fourth quarter of 2024 after obtaining regulatory approvals, Sennder is also exploring fundraising as a strategic option, though it differs from traditional venture funding methods. Among Sennder’s current backers are prestigious names like Baillie Gifford, Hedosophia, Accel, Lakestar, HV Capital, Project A, and Scania.

David Nothacker, Sennder’s CEO and co-founder, expressed to TechCrunch, “As of today, we do not need another round of financing for the time being. However, our recent growth opens up new opportunities. We’re keen on continuing our investment and growth trajectory with grand ambitions.”

“This strategic acquisition is set to bolster Sennder’s trajectory substantially. With a goal to expedite global trade and supply essential goods and products, aligning with C.H. Robinson’s impressive European Surface Transportation team empowers us to deliver remarkable growth, operational efficiency, and an expansive digital and physical network in Europe. This benefits carriers, shippers, and the industry at large. We eagerly look forward to integrating the EST team and embarking on this exhilarating phase of Sennder’s evolution,” Nothacker added.

An update from the CEO regarding Sennder’s fundraising intentions was later added to this narrative.