Kuehne+Nagel completes Contract Logistics restructuring
- Divestment of major part of the UK Contract Logistics portfolio successfully completed
- UK transaction follows recent divestments in France, Argentina
- Continued commitment to scalable Contract Logistics solutions worldwide, especially in e-commerce and pharma
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. This transaction follows the sale of the Contract Logistics activities in Argentina, the chilled FMCG portfolio in France as well as a portfolio of real estate assets.
The UK transaction closes after the unconditional approval by the British Competition and Market Authority. The scope includes the drinks logistics, food services and retail & technology businesses. Kuehne+Nagel 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.