Kuehne + Nagel expands European overland business through two major acquisitions (turnover: 220 million euros) in Germany

Kuehne + Nagel is continuing the expansion of its overland activities with the acquisition of Mainz-based company G.L. Kayser Spediteur seit 1787 GmbH & Co. KG, and the Cordes & Simon Group headquartered in Hagen (North-Rhine Westphalia).

G.L. Kayser is a medium-sized family business headquartered in Mainz. The company ranks among the leading logistics providers in the Rhine-Main region with an annual turnover of 120 million euros and around 700 employees. Its business focus is on international and national overland activities and on the provision of state-of-the-art logistics solutions.

In contract logistics, G.L. Kayser offers customers a comprehensive portfolio of services and has 120,000 sqm of warehouse space under management at four locations in the region.

Cordes & Simon was founded in 1934 and has developed into one of the leading logistics providers in North-Rhine Westphalia. This company's business focus too is on national and international groupage services. It employs 550 staff and reported a turnover of 100 million euros in 2006. In addition to the headquarters in Hagen and a branch in Wilnsdorf, Cordes & Simon operates in the Berlin-Brandenburg region, as well as in Freiberg near Stuttgart and Villingen-Schwenningen. The steel forwarding business remains in the ownership of the vendors.

Klaus Herms, CEO of Kuehne + Nagel International AG, commented, "With G.L. Kayser and Cordes & Simon we are adding two companies with long-time experience and expertise to our Group, taking an important further step in the realisation of our ambitious growth objectives. The acquisitions significantly strengthen our network and market position in Germany, and provide us with an ideal platform to dynamically expand our overland activities in Europe."

Both agreements are subject to the approval of the antitrust authorities. All parties agreed not to disclose the purchase prices.