Kuehne + Nagel and XPO Logistics agree deal
The logistics company, Kuehne + Nagel, has announced its intention to sell a major component of its UK contract logistics portfolio to XPO Logistics.
The transaction includes the drinks logistics, food services and retail and technology businesses.
“One year ago, we first announced the strategic review of our contract logistics business to improve profitability and focus on our core, scalable solutions,” commented Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG. “We have now reached a major milestone in this effort, having secured an agreement to sell significant non-core assets in the UK. With XPO Logistics, we are pleased to have found a good new home for our customers and employees.”
Kuehne + Nagel remains committed to delivering excellent customer solutions and service in the UK across all business units, as well as contract logistics. The press release confirmed that the company will retain the industry verticals aerospace, government and pharma. No financial details of the deal have been disclosed yet, but the transaction is anticipated to close during the second half of 2020.
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Who is Kuehne + Nagel?
As one of the world’s leading logistics companies, Kuehne + Nagel serves sea, air, road and contract logistics and has a focus on providing integrated logistics solutions. The firm employs around 83,000 employees at 1,400 locations in more than 100 countries.
Click here for Supply Chain Digital’s closer look at the company.
Who is XPO Logistics?
XPO Logistics is one of the leading global providers of transportation and logistics services worldwide, with a highly integrated network of people, technology and physical assets.
Click here for Supply Chain Digital’s closer look at the company.
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