Strategic acquisition in USA for Kuehne Nagel Group
The Kuehne + Nagel Group has entered into an agreement to acquire 100 percent of the shares of ReTrans Inc, a USA-based leading provider of multimodal transportation management solutions. The acquisition builds on Kuehne + Nagel’s overland strategy and will significantly strengthen the company’s position as an end-to-end logistics provider in North America.
Founded in 2002 and headquarted in Memphis Tennessee, ReTrans ranks among the leading US non-asset brokerage providers of intermodal transportation, as well as full and less-than-truckload (FTL and LTL) services in the United States and Canada. With more than 300 employees the company operates in 68 locations and generates annual revenues exceeding $500 million.
Dr Detlef Trefzger, CEO of the Kuehne + Nagel Group, said: “The transaction with ReTrans underlines our strategy to grow organically and through complementary acquisitions. Our customers will benefit from comprehensive end-to-end supply chain solutions in North America. Combined with our strong seafreight, airfreight and contract logistics operations, this transaction will accelerate our growth.”
The transaction is still subject to approval by the competent U.S. regulatory authorities. Both parties agreed not to disclose the purchase price.
Stefan Paul, Executive Vice President Overland, added: “By acquiring ReTrans we obtain expertise in intermodal transportation with direct access to the most important North American railroad companies, an innovative LTL brokerage business and a platform to provide managed transportation services.”
With over 63,000 employees at more than 1000 locations in over 100 countries, the Kuehne + Nagel Group is one of the world's leading logistics companies. Its strong market position lies in the seafreight, airfreight, contract logistics and overland businesses, with a clear focus on providing IT-based integrated logistics solutions.
“We are excited and looking forward to significantly growing our business with ReTrans and Kuehne + Nagel’s customers”said David Wedaman, President of ReTrans, who will take over the combined responsibility for the ReTrans and Kuehne + Nagel overland business in the USA “Our customers will be pleased with the access to Kuehne + Nagel’s global network and to take advantage of the expanded range of services.”
Further information can be found at:- http://www.kn-portal.com/about_us/media_relations/news/show/?tx_knnews_pi1%5Buid%5D=4895&cHash=8a57895669ff8cd824d9b936eac90004
- Temasek and Kuehne + Nagel to launch joint venture to invest in supply chain start-upsDigital Supply Chain
- The businessfriend platform offers new way for supply chain exec's to do businessDigital Supply Chain
- North East US winter storm causes shipping disruptionDigital Supply Chain
- UPS adds three more US training centresDigital Supply Chain