Freight forwarding giant Kuehne+Nagel has acquired a 51% stake in US logistics company IMC Logistics
Kuehne+Nagel, the world's largest freight forwarding company, announced on the 14th that it has acquired a 51% controlling stake in IMC Logistics, an American logistics company, and the acquired IMC brand will be retained.
The transaction is expected to close early in the first quarter of 2025, and the parties have agreed not to disclose further details of the transaction at this time, which is subject to regulatory approvals and customary closing conditions.
According to public information, IMC Logistics is a family-owned company with a national network of 49 locations and strategic locations at major seaports and rail hubs in the United States. The company handles 2 million TEUs per year in intermodal short-haul transport and rail operations. IMC has approximately 1,700 employees and an extensive network of independent contractors with 2023 revenue of approximately $800 million.
Joerg Wollebo, Chairman of the Board of Directors of Kuehne+Nagel International AG, said: "Kuehne+Nagel's strategy is based on organic growth supported by targeted additional acquisitions. Asia and North America are key growth markets for our business, where we have established leading positions and are systematically expanding. As with the acquisition of IMC in the US and Apex in Asia, we really rely on long-term partnerships. This reduces acquisition risk and ensures quick success by deepening an already rewarding partnership. The acquisition of a majority stake in IMC represents another important strategic step. We are further expanding our leading position in North America for the benefit of our customers and building closer collaboration with our partners, especially carriers."
Stefan Paul, CEO of Kuehne+Nagel International AG, said: "International maritime logistics is a highly complex business involving many interfaces and stakeholders, of which US trade flows are crucial. IMC's range of capabilities significantly expands our service offerings and allows us to develop more attractive solutions for our Marine customers' value chains."
The transaction is expected to close early in the first quarter of 2025, and the parties have agreed not to disclose further details of the transaction at this time, which is subject to regulatory approvals and customary closing conditions.
According to public information, IMC Logistics is a family-owned company with a national network of 49 locations and strategic locations at major seaports and rail hubs in the United States. The company handles 2 million TEUs per year in intermodal short-haul transport and rail operations. IMC has approximately 1,700 employees and an extensive network of independent contractors with 2023 revenue of approximately $800 million.
Joerg Wollebo, Chairman of the Board of Directors of Kuehne+Nagel International AG, said: "Kuehne+Nagel's strategy is based on organic growth supported by targeted additional acquisitions. Asia and North America are key growth markets for our business, where we have established leading positions and are systematically expanding. As with the acquisition of IMC in the US and Apex in Asia, we really rely on long-term partnerships. This reduces acquisition risk and ensures quick success by deepening an already rewarding partnership. The acquisition of a majority stake in IMC represents another important strategic step. We are further expanding our leading position in North America for the benefit of our customers and building closer collaboration with our partners, especially carriers."
Stefan Paul, CEO of Kuehne+Nagel International AG, said: "International maritime logistics is a highly complex business involving many interfaces and stakeholders, of which US trade flows are crucial. IMC's range of capabilities significantly expands our service offerings and allows us to develop more attractive solutions for our Marine customers' value chains."
