Kuehne + Nagel strengthens perishable and overland business portfolios with acquisitions
Kuehne Nagel has acquired Worldwide Perishable Canada Co. (WWP), one of the largest freight forwarders in the country and in another move KN Austria took over Jobstl, a medium-sized logistics enterprise headquartered in Wundschuh near Graz.
July 25, 2019: Kuehne Nagel (KN) has acquired Worldwide Perishable Canada Co. (WWP), one of the largest freight forwarders in the country and in another move KN Austria took over Jobstl, a medium-sized logistics enterprise headquartered in Wundschuh near Graz.
Meanwhile, WWP is a top player for perishables cargo and one of the market leaders in tuna export. With a strong footprint on the East Coast, WWP will strengthen the existing Kuehne Nagel perishables network in Canada.
"Perishables logistics is one of our strongest growth drivers at Kuehne Nagel," said Greg Martin, regional airfreight manager Kuehne Nagel North America. "Thus, we have been continuously investing in the expansion of our dedicated network: through selected acquisitions and by connecting key production countries to major markets. Setting up globally certified standards which are reflected in our KN FreshChain solution, has further strengthened our perishables network worldwide, making it the largest in the industry."
WWP was founded in 1999 and is headquartered in Halifax, Nova Scotia. Originally dedicated to serving a local demand in the Canadian export market it has grown into one of the country's major perishables forwarders. The combined volume of both companies' business portfolio will account for more than 17,000 tonnes air export of perishables per annum out of Canada strengthening Kuehne Nagel's position in North America.
Kuehne Nagel enhances overland network with the acquisition of the Jbstl Group: https://t.co/DOlTot0gl0 pic.twitter.com/obPbcvGSUI
— Kuehne Nagel (@Kuehne_Nagel) July 24, 2019
At the same time, with the integration of the Jobstl Group, Kuehne Nagel is expanding its overland network and simultaneously strengthening the region as the gateway to Eastern Europe. In the future, particularly those customers requiring European groupage services can benefit from the transport operations offered by the Jobstl Group.
"By adding the Jobstl Group portfolio to ours, we are able to offer more services to the customers in the region, as well as further develop our overland network strategically", explained Uwe Hott, senior vice president Overland Europe at Kuehne Nagel. "With over 130 overland branch offices throughout Europe, Kuehne Nagel is already connecting all markets in the region. By integrating the Jobstl network, transport operations and in particular connections to neighbouring countries will be further strengthened with the increasing frequency of departures and shortening lead times. Especially, medium-sized companies will benefit from our expanded portfolio of offerings."
The acquisition is subject to approval by the responsible antitrust authorities. As part of the acquisition, 100 percent of SLM Spedition und Logistik GmbH, Vienna, shares will be transferred to Kuehne Nagel. The parties have agreed not to disclose the purchase price of the transaction.
