Kuehne + Nagel has entered an agreement to acquire 100% of the shares of Norwegian perishables freight forwarder Salmosped AS. The Oslo-based company specialises in the transportation of seafood products. It generated a turnover of CHF*118m in 2020, handling approximately 63,000 tonnes of goods.
K+N has a global perishables logistics network with more than 70 stations worldwide. The bolt-on acquisition of Salmosped increases the size of K+N’s global network in seafood, complementing existing operations in Halifax and Vancouver in Canada, London in the UK and Santiago in Chile.
Dennis Verkooy, Senior Vice President of Global Perishables and Head of Carrier Management Air Logistics at Kuehne + Nagel Management AG, said, “Perishables logistics is a strong growth driver for Kuehne + Nagel. While we have been present in the seafood business in Norway for years, today’s acquisition strengthens our footprint in air freight exports from this important seafood producing country. We are looking forward to enlarging our Norwegian team with Salmosped’s specialists.”
The transaction is subject to customary closing conditions, including clearance by the competent merger control authorities.
Source: Kuehne + Nagel
*CHF=€0.93/$1.12
