06
December
2004
|
07:24
Europe/Amsterdam

Kuehne + Nagel acquires Häring Service Company

Kühne + Nagel (AG & Co.) KG has taken over Häring Service Company AG, headquartered in Grafenau (Bavaria), Germany. The acquisition marks a further significant step for Kuehne + Nagel in its strategy to expand road transport activities in Germany and strengthen its position in the contract logistics market.

The Häring Group was founded in 1955. With an annual turnover of approx. 170 million euros and around 1,500 staff, the company is among the largest medium-sized logistics players in Germany. Alongside national and international overland transport activities, contract logistics belongs to its core business fields. Nationwide, the company manages some 260,000 sqm of warehousing space and provides comprehensive, industry-specific contract logistics services to well-known customers in the automotive and electronics sector.

With locations in Hamburg, Dortmund and Eastern Bavaria, Häring complements and extends Kuehne + Nagel’s overland activities, enabling the company to enhance the utilisation of IDS infrastructure for its German and European groupage business. In addition, distribution out of logistics centres can be optimised and handled more efficiently.

“The acquisition of Häring Service Company AG widens our presence across Germany and especially Bavaria, and considerably strengthens our market position as integrated logistics provider,” commented Ewald Kaiser, Managing Director for Kühne + Nagel (AG & Co.) KG. “Not least, by joining forces the two companies are contributing towards stabilising cooperation within the IDS network.”

Christian Just, CEO of Häring Service Company AG, added, “We are proud to become a member of a logistics group as successful as Kuehne + Nagel. This will deliver benefits to both our customers and our company.”

The agreement is subject to the approval of the antitrust authorities. Both parties agreed not to disclose the purchase price.
inge.lauble@kuehne-nagel.com