XPO Logistics has announced that it has completed its acquisition of the majority of Kuehne + Nagel’s UK and Ireland contract logistics business.
With the completed divestment of a major part of its UK Contract Logistics portfolio to XPO Logistics, Kuehne + Nagel has completed the restructuring of this business unit. This transaction follows the sale of the Contract Logistics activities in Argentina, the chilled FMCG portfolio in France as well as a portfolio of real estate assets.
The UK transaction closes after the unconditional approval by the British Competition and Market Authority. The scope includes drinks logistics, food services and retail & technology businesses.
XPO has stated that the transaction will expand its contract logistics network in the UK and Ireland to 248 locations and approximately 26,000 employees. The acquired operations include logistics services such as inbound and outbound distribution, reverse logistics management and inventory management.
Dr Joerg Wolle, Chairman of Kuehne + Nagel International AG, said, “We initiated the strategic review of our Contract Logistics activities in the Board of Directors in early 2019 and informed our business partners and the public accordingly. With the divestment of parts of our contract logistics business in the UK, the focused, comprehensive restructuring process was successfully completed. The business unit is now well-positioned to concentrate on scalable solutions worldwide, particularly in the e-commerce and pharmaceutical sectors.”
Source: Kuehne + Nagel/ Transport Topics
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