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Kuehne + Nagel sells UK contract logistics portfolio to XPO Logistics

SWISS global transport and logistics company Kuehne + Nagel has entered into an agreement to sell a major part of its UK contract logistics portfolio to XPO Logistics, including the drinks logistics, food services and retail and technology businesses, for an undisclosed amount

15 March 2020 - 19:00

SWISS global transport and logistics company Kuehne + Nagel has entered into an agreement to sell a major part of its UK contract logistics portfolio to XPO Logistics, including the drinks logistics, food services and retail and technology businesses, for an undisclosed amount.

These operations generated a turnover of CHF750 million (US$800.9 million) last year and employed 7,500 staff.



Kuehne + Nagel International CEO Dr Detlef Trefzger commented: 'One year ago, we first announced the strategic review of our contract logistics business to improve profitability and focus on our core, scalable solutions.



'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 said it remains highly committed to excellent customer solutions and service in the UK across all business units, including contract logistics. In particular, the company retains the industry verticals aerospace, government and pharma. These are amongst the group's scalable leverage areas.



The transaction is subject to customary closing conditions including merger clearance by the competent competition authorities. The deal is expected to close in the second half of the year.


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