Aug 08, 2018: Kuehne + Nagel (K+N) announced that it has successfully completed acquisition of the perishables business of Panatlantic Logistics S.A., Ecuador. This acquisition will enable K+N to strengthen its position in the export market to the United States, Europe and the Asia-Pacific region.

“Perishables Logistics is a strong growth driver for K+N. After the integration of two market leaders in 2017 the acquisition of the perishables business of Panatlantic Logistics S.A. marks another important step in our global strategy. Our KN FreshChain offers scalable solutions and highest standards for transportation of temperature sensitive perishable products. With Panatlantics Logistics on board we further strengthen and expand our fresh chain network – the largest in the logistics industry for perishables – connecting key production countries to major markets,” said Yngve Ruud, member of the managing board of K+N International AG, responsible for airfreight.

Panatlantic Logistics S.A.’s operations are carried out in a temperature-controlled warehouse at Quito airport. The combined volume of K+N’s current business portfolio and Panatlantic´s will account for 32,000 tonnes air export perishables per annum out of Ecuador. Together with the perishables business managed in Colombia, Peru, Brazil and Chile, K+N controls over 120,000 tonnes per annum of air export perishables in the South and Central America region.

“By joining forces we will co-create an enormous potential of opportunities for our customers. Our strong and reliable market position in Ecuador will add and generate new and multiple chances for growing perspectives and services,” said Raul Aragundi, CEO and shareholder of Panatlantic Logistics S.A.

“By acquiring this specialised player, K+N consolidates its leading position in one of South America’s key perishables export markets, and, at the same time, considerably strengthens its position in the regional airfreight markets. Beyond combined volumes and generation of synergies with our existing operations, we will enhance the service and value add offering to our customers, using the experience of both companies,” said Ingo Goldhammer, K+N, president South and Central American region.

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