XPO Logistics has completed the acquisition of a majority of Kuehne + Nagel, one of the world’s leading logistics companies.
The logistics provider has added Kuehne + Nagel to its contract logistics operations network in the UK and Ireland, which is made up of 248 locations.
The transaction was approved with unconditional support by the British Competition and Market Authority, and includes 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.”
He added: “The business unit is now well positioned to concentrate on scalable solutions worldwide, particularly in the e-commerce and pharmaceutical sectors.”
Malcolm Wilson, chief executive officer for Europe at XPO Logistics said: “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.”