Kuehne + Nagel acquires Nether Cargo Services B.V., Amsterdam

Effective June 1, 2004, Kuehne + Nagel has taken over the Dutch freight forwarder Nether Cargo Services B.V. The acquisition enables Kuehne + Nagel to extend its services in the perishables business field and equally strengthen its position in the local airfreight market.

Nether Cargo Services B.V., established in 1990, achieved a turnover in excess of 30 million euros for 2003, and handled around 37,500 tonnes of airfreight, its core business. The company, headquartered at Amsterdam’s Schiphol Airport and with branch offices in Rotterdam and Aalsmeer, is specialised in the shipment of perishables, especially flowers and vegetables. In the Netherlands, it counts among the market leaders in this business segment.

“The activities of Nether Cargo Services ideally complement our service offering in the Netherlands,” Clemens Abt, responsible at Kuehne + Nagel for the Benelux region, commented on the transaction. “Moreover, with this acquisition we are realising a further step in our group-wide strategy to strengthen our capabilities and capacities in the perishables niche sector. It is our objective to establish Kuehne + Nagel as a leading logistics provider in this important sector of the economy of the Netherlands, and to extend our activities across the entire Benelux region.”

With its 55 employees, Nether Cargo Services will operate as a wholly owned subsidiary of Kühne + Nagel N.V., maintaining its original brandname for the time being.

The Dutch antitrust authorities have approved the acquisition. Both parties agreed not to disclose the purchase price.