Kuehne+Nagel has struck a deal to acquire City Zone Express, a subsidiary of Chasen Holdings Ltd., a company listed on the Singapore Exchange Mainboard. Established in Malaysia in 2006, City Zone Express operates across Malaysia, Singapore, Vietnam, Thailand, and China, boasting a workforce of over 500 employees. The acquisition is poised to immediately boost earnings and strategically strengthen Kuehne+Nagel’s cross-border road logistics services in Asia.
City Zone Express owns a fleet of 260 vehicles and possesses 80,000 sq m of warehousing space, providing dependable cross-border logistics services spanning Southeast Asia to China. Integration with Kuehne+Nagel’s network, logistics expertise, and eTrucknow visibility platform promises enhanced offerings for customers in burgeoning sectors like e-commerce and high-tech.
Hansjörg Rodi, a Member of Kuehne+Nagel International AG’s Management Board overseeing Road Logistics, highlighted the attractiveness of Asia’s economies for expanding road logistics services in alignment with the company’s Roadmap 2026. He noted City Zone Express as a reputable regional player whose capabilities complement Kuehne+Nagel’s, enabling tailored solutions in complex cross-border environments.
S. Pirithivaraj A/L Selvarajoo, Founder of City Zone Express, expressed excitement about joining the Kuehne+Nagel Group, citing its leadership in air, sea, and road freight. He emphasised the combined footprint in road logistics, aiming to meet the rising demand in Southeast Asia, a key manufacturing hub for industries such as high-tech, semiconductors, and e-commerce.
The transaction’s completion is anticipated in the upcoming months, subject to regulatory approvals and consent from Chasen Holdings’ shareholders.
Source: Kuehne-Nagel
