German DHL Group signed an agreement to acquire 100 percent of Turkish parcel delivery company MNG Kargo and its subsidiaries.
Established in 2003 and delivering parcels to 600,000 addresses per day, MNG Kargo is one of the leading parcel delivery companies in Türkiye, where the parcel market is expected to reach double-digit growth over the next years, driven by young and dynamic population with high tech penetration rates.
Commenting on the deal, DHL Group CEO Tobias Meyer, quoted, “We identified e-commerce as a megatrend in logistics, alongside sustainability, globalization, and digitalization, and made it an area of focus in our DHL Group Strategy 2025 over the last years.
We, therefore, continuously work to expand our footprint in the e-commerce sector through organic or inorganic growth. MNG Kargo complements our business portfolio and will help further to strengthen our position in this sector."
Investment Office President A. Burak Dağlıoğlu emphasized that Türkiye is a regional hub in the logistics sector with its growing economy, strategic location, skilled labor force and developed infrastructure and added, DHL Group's acquisition on the 100th anniversary of our Republic demonstrates its belief in Türkiye's rising potential as well as increasing investment appetite in our country. Under the leadership of President Recep Tayyip Erdoğan, improving the investment environment in Türkiye and increasing FDI are our primary objectives."
The transaction is subject to clearance by the Turkish Competition Authority as well as approval of the Turkish Information and Communications Technologies Authority.