Consolidation is continuing in warehouse robotics. Jungheinrich AG today announced that it is buying all shares from the founders of Magazino GmbH and previous co-shareholders, including Cellcom, Fiege Logistik, and Körber.
Jungheinrich has held shares in Magazino since 2020 and increased its holdings to 21.7% last year. The transaction took effect this week, and the parties did not discluse the purchase price.
“The need for warehouse automation is growing constantly,” stated Frederik Brantner, co-founder and CEO of Magazino. “By steering robots in this complex environment, we have developed a unique expertise that we want to further expand.”
“We would like to thank our previous investors for the trust they have placed in us and for the many years of successful cooperation,” he added. “They have supported us strategically and financially to date and have made a significant contribution to the further development of our business.”
“Together, we have laid the foundation for the next chapter in Magazino's success story,” Brantner said. “With Jungheinrich, we will continue to extend our intralogistics technology leadership and also expand internationally.”
Magazino to retain management
Founded in 2014, Magazino employs about 130 people and claimed that it has one of the largest mobile robotics development teams in Europe. The Munich-based company offers technology that enables logistics robots to operate in complex environments with people.
As a result, it said its robots are able to intelligently navigate in warehouse as well as selectively pick up and transport needed objects. Various industrial customers, online retailers, and logistics service providers are already using Magazino's systems in their facilities, it said.
In addition, Magazino's robot control software is already integrated in Jungheinrich's EAEa, a fully automated low-lift truck that was initially presented at this year's LogiMAT intralogistics trade fair.
Magazino will continue to grow as an independent company within Jungheinrich and benefit from the group's global sales and service network. The company will remain under the management of both co-founders Brantner and Lukas Zanger, as well as Dr. Moritz Tenorth.
Jungheinrich grows automation portfolio
Hamburg, Germany-based Jungheinrich said its takeover of Magazino is “another strategically important step towards strengthening its automation expertise.” The company said the merger will expand its automated and autonomous vehicle business.
Jungheinrich reported sales of €4.76 billion ($5.18 billion U.S.) in 2022 and has about 20,000 employees. Its global network includes 11 production sites, as well as service and sales companies in 42 countries.
Going forward, Jungheinrich said it plans to further integrate Magazino's software and development expertise into its product development. The Magazino brand will continue and join Jungheinrich's portfolio of intralogistics products and solutions. Magazino will continue to work with external integration partners and customers.
“We've been working closely with Magazino for several years now, we are on par with each other and communicate well,” said Dr. Lars Brzoska, chairman of the board of management of Jungheinrich. “The chemistry is simply right. Now we are taking the next logical step in our cooperation and acquire Magazino in full.”
“Magazino is a successful company with a very good management and top experts in the market,” he said. “It has outstanding software competencies and has developed solutions that have the potential to shape the future of intralogistics in the long term. In the group, we will leverage these competencies to jointly drive the further development of innovative automation and robotics solutions.”
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