THE world's biggest forwarder, Switzerland's Kuehne + Nagel Group, has bought ReTrans Inc, an American logistics management company.
The acquisition will significantly strengthen Kuehne + Nagel's position as an end-to-end logistics provider in North America, said a K+N statement.
Founded in 2002 in Memphis, ReTrans ranks among the leading US non-asset brokerage providers of intermodal transportation, as well as box trucker in the US and Canada.
With more than 300 employees the company operates in 68 locations and generates annual revenues exceeding US$500 million.
Said Kuehne + Nagel CEO Detlef Trefzger: "Combined with our strong sea freight, air freight and contract logistics operations, this transaction will accelerate our growth."
Said ReTrans president David Wedaman: "Our customers will be pleased with the access to Kuehne + Nagel's global network and to take advantage of the expanded range of services."
The transaction is subject to approval by US regulatory authorities.
Kuehne + Nagel has 63,000 employees at more than 1,000 locations in 100 countries.
LOGISTICS
30 June 2015 - 20:58
Kuehne + Nagel Group buys ReTrans, US multimodal solutions provider
THE world's biggest forwarder, Switzerland's Kuehne + Nagel Group, has bought ReTrans Inc, an American logistics management company.
LOGISTICS
30 June 2015 - 20:58
Kuehne + Nagel Group buys ReTrans, US multimodal solutions provider
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