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Partnerships

Sennder and Poste Italiane expand Italian JV

Truck Industry Tech

Jul 12, 2023

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Jul 12, 2023

Sennder and Poste Italiane expand Italian JV

Partnerships

Sennder, a Germany-based freight matching platform, and Italian postal company Poste Italiane have extended their Italian Joint Venture (JV; Sennder Italia) and commercial agreement for up to 10 years, with the potential to generate EUR 2.3 billion (USD 2.6 billion) in revenue for Sennder Italia.
The agreement includes an increased ownership stake for Sennder in Sennder Italia (to 75%) and an increased Poste Italiane's stake in Sennder (to 10% on a fully diluted basis).
Sennder Italia, established as a digital freight forwarder in Italy, has reported EUR 4.5 million (USD 5.0 million) EBITDA in 2022 and achieved continuous YoY double-digit growth. The JV aims to leverage technology to optimize full truckload (FTL) operations and enhance logistics processes.
Analyst QuickTake: Sennder first established the JV with Poste Italiane in July 2020 to improve efficiency and provide full visibility of its trucks. The JV was expected to save around 6% of Poste Italiane’s annual spend (EUR 100 million [USD 120 million]) on FTL.

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