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US logistics company acquires major part of Kuehne + Nagel

An American transportation and logistics company has acquired a major stake in Kuehne + Nagel UK contract logistics portfolio.

World leading logistics company, Kuehne + Nagel has sold divestment of drinks logistics, food services and retail and technology businesses to XPO Logistics.

Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG said one year ago the company first announced the strategic review of its contract logistics business to improve profitability.

“We have now reached a major milestone in this effort, having secured an agreement to sell significant non-core assets in the UK. With XPO Logistics, we are pleased to have found a good new home for our customers and employees,” he said.

The acquisition will expand XPO’s contract logistics offering in the UK, including 83 facilities and a blue-chip customer base.

The deal is expected to close in the second half of this year and both parties have agreed not to disclose transaction details.

Kuehne + Nagel’s U.K. business brought in 500 million pounds ($1 billion) in revenue in 2019 and revolves around the e-commerce, technology, and food and beverage industries.

Currently, the company’s European operations include 36 countries with 345 branches, 5,000 trucks and 7,000 trailers.

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