Exel plc
2005
$6.3B
Why
To acquire the British-based global contract logistics and freight forwarding giant, instantly making DHL the undisputed leader in supply chain management and warehousing worldwide.
Impact
The $6.0 billion acquisition nearly overleveraged the company's balance sheet and required years of painful divestitures and operational restructuring to integrate Exel's sprawling, low-margin footprint into DHL's network.
Outcome
Despite the initial financial strain, the Exel acquisition successfully established DHL's Supply Chain division as a dominant global force, generating $19.8 billion in revenue and providing deep, long-term relationships with Fortune 500 companies.