Kuehne + Nagel (K+N) has significantly advanced its position in perishables logistics by acquiring leading forwarders in the United States and Kenya.
In the US, K+N has acquired CFI, Commodity Forwarders Inc., which K+N claim is the leading air freight forwarder of perishables products in the USA. Established in 1974, CFI commenced operations by shipping strawberries from Los Angeles to Europe, but now has over 700 employees and operates from 14 locations across the country including Alaska and Hawaii. It specialises in managing the export, import and distribution of seafood, all kinds of agricultural products, flowers and greens.
Alfred Kuehlewind, Founder and CEO of CFI, commented: “We are looking forward to become part of the Kuehne + Nagel Group. The planned transaction will offer us new growth perspectives and access to a global logistics network. Both companies’ customers will benefit from an extended service scope.”
In Kenya, the acquisition of Trillvane Ltd, “one of the largest perishables specialists in Kenya”, will enable K+N to strengthen its position in perishables operations between Kenya and Europe, in particular to the UK. With its 130 employees, Trillvane is specialised in the export of flowers and vegetables. Its location at the Jomo Kenyatta International Airport in Nairobi provides rapid access to all major airlines allowing for later cut-offs and shorter transit times leading to both cost savings and optimal handling of temperature sensitive goods.
Yngve Ruud, member of the Management Board of Kuehne + Nagel International AG, responsible for Airfreight Logistics: “The two acquisitions mark another important step in our global perishable logistics strategy. These two transactions further strengthen and expand our fresh chain network connecting key production countries to major consumer markets. The business potential in the steadily growing global perishable sector is huge. Based on our dedicated network – by now the largest in the logistics industry for perishables – and globally integrated IT systems we can scale business opportunities and accelerate our growth in this sector with end-to-end transparency. At the same time, we improve our global and national positioning in airfreight. Together with CFI Kuehne + Nagel becomes the number 2 airfreight forwarder in the United States and the acquisition of Trillvane confirms our leading position in Kenya.”
All parties agreed not to disclose purchase prices. Both transactions are subject to customary closing conditions and to clearance by the competent merger control authorities.
Source: Kuehne + Nagel
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