K+N acquires New York-based time-critical logistics services company
Swiss forwarder Kuehne + Nagel (K+N) is bolstering its foothold in time-critical logistics with the acquisition of Quick International Courier, a New York-based consortium of logistics services companies, with a focus on the healthcare and pharmaceutical industries.
“Kuehne + Nagel’s M&A [mergers and acquisitions] strategy is focused on expanding our footprint,” said Detlef Trefzger, CEO of K+N International AG. “The acquisition of Quick is another accelerator to drive network growth and to enhance our global customer solutions portfolio.”
Yngve Ruud, member of the managing board of K+N, responsible for airfreight, spoke of the acquisition’s relevance to K+N’s airfreight sector, calling it the purchase an “important milestone” and a “confirmation of our leading position in airfreight.”
In its third quarter financial statement, the forwarder said that United States perishables market is at the forefront of its air freight strategy. Over the nine-month period, K+N’s airfreight sector grew 19 percent to US$272.3 in operating income (EBIT), and saw a tonnage increase of 16 percent to 1.3 billion tonnes, year-over-year.
