Kuehne+Nagel acquires Chinese logistics provider Apex
Kuehne Nagel will be acquiring Apex International Corporation, one of Asia’s leading freight forwarders, especially in the transpacific and intra-Asia.
- Acquisition represents the largest in Kuehne Nagel's history.
- At this point, both parties have agreed to not disclose any further transaction details.
February 22, 2021: Kuehne Nagel will be acquiring Apex International Corporation, one of Asia's leading freight forwarders, especially in the transpacific and intra-Asia. At this point, both parties have agreed to not disclose any further transaction details.
Detlef Trefzger, CEO of Kuehne Nagel International AG, said, "The combination of Apex and Kuehne Nagel provides us with an opportunity to offer our customers a compelling proposition in the competitive Asian logistics industry, especially in e-commerce fulfilment, hi-tech and e-mobility. We are looking forward to welcoming the Apex colleagues to the Kuehne Nagel family."
Following closing of the transaction, a minor stake of Apex shares is to remain with the experienced and entrepreneurial management of Apex. Furthermore, the company will then continue to operate separately within the Kuehne Nagel Group.
Tony Song, chairman of the board of directors and CEO of Apex, added, "With Kuehne Nagel, we have found a strategic shareholder and logistics group with more than 130 years of heritage. We are sure that with this transaction, we will be able to add value for our customers' supply chains and expand our global logistics network. We will complement Kuehne Nagel's existing global air logistics team while offering our management and key talents unique career opportunities."
Founded in China in 2001, Apex has expanded throughout Asia and beyond over the years. Apex generates yearly turnover in excess of CHF 2.1 billion. In 2020, the company handled total air freight volume of approximately 750,000 tonnes and sea freight volume of 190,000 TEUs.