XPO Logistics has completed its acquisition of the majority of Kuehne + Nagel’s contract logistics operations in the UK and Ireland.
The divestment of a major part of Kuehne + Nagel’s UK Contract Logistics portfolio follows recent divestments in France, Argentina.
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.
XPO, the US-owned global logistics giant – which provides supply chain solutions to some of the world’s most successful companies – has its UK headquarters in Northampton.
The transaction expands XPO’s contract logistics network in the UK and Ireland to 248 locations and approximately 26,000 employees.
The acquired operations provide a range of logistics services, including inbound and outbound distribution, reverse logistics management and inventory management, primarily in the beverage, technology and e-commerce, and food service verticals.
Kuehne + Nagel International AG is a global transport and logistics company based in Schindellegi, Switzerland. It was founded in 1890, in Bremen, Germany, by August Kühne and Friedrich Nagel. It provides sea freight and airfreight forwarding, contract logistics, and overland businesses.
This divestment follows the sale of the Contract Logistics activities in Argentina, the chilled fast-moving consumer goods (FMCG) portfolio in France as well as a portfolio of real estate assets.
The UK transaction completed after unconditional approval by the UK’s Competition and Market Authority.
The scope includes the drinks logistics, food services and retail & technology businesses.
Kuehne+Nagel says it “remains highly committed to excellent customer solutions and service in the UK.”
Dr. Joerg Wolle, Chairman of Kuehne + Nagel International AG, says: “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.”
With over 78,000 employees at 1,400 locations in over 100 countries, the Kuehne+Nagel Group is one of the world’s leading logistics companies. Its strong market position lies in sea logistics, air logistics, road logistics and contract logistics, with a clear focus on integrated logistics solutions.
Malcolm Wilson, XPO Logistics chief executive officer for Europe, says: “We’re pleased to complete the Kuehne + Nagel acquisition and welcome these prestigious new customers and talented colleagues to XPO. We look forward to the new opportunities that have been created by the combined resources of our larger organisation.”
