The Kuehne + Nagel Group, a Switzerland-based logistics firm with more than 1,000 offices in over 100 countries, has entered into an agreement to acquire 100 percent of the shares of ReTrans Inc., a U.S.-based leading provider of multimodal transportation management solutions. The acquisition builds on Kuehne + Nagel’s overland strategy and will significantly strengthen the company’s position as an end-to-end logistics provider in North America.
Founded in 2002 and based in Memphis, Tenn., ReTrans ranks among the leading U.S. non-asset brokerage providers of intermodal transportation, as well as full and less-than-truckload (FTL and LTL) services in the United States and Canada. With more than 300 employees the company operates in 68 locations and generates annual revenues exceeding $500 million.
Dr. Detlef Trefzger, CEO of the Kuehne + Nagel Group, stated: “The transaction with ReTrans underlines our strategy to grow organically and through complementary acquisitions. Our customers will benefit from comprehensive end-to-end supply chain solutions in North America. Combined with our strong sea freight, airfreight and contract logistics operations, this transaction will accelerate our growth.”
Stefan Paul, executive vice president of overland, added: “By acquiring ReTrans we obtain expertise in intermodal transportation with direct access to the most important North American railroad companies, an innovative LTL brokerage business and a platform to provide managed transportation services.”
“We are excited and looking forward to significantly growing our business with ReTrans and Kuehne + Nagel’s customers”, said David Wedaman, president of ReTrans, who will take over the combined responsibility for the ReTrans and Kuehne + Nagel overland business in the U.S.A. “Our customers will be pleased with the access to Kuehne + Nagel’s global network and to take advantage of the expanded range of services.”
The transaction is still subject to approval by the competent U.S. regulatory authorities. Both parties agreed not to disclose the purchase price.
