Kuehne+Nagel acquires majority stake in IMC Logistics in the USA
Published: Thursday, Nov 14th 2024, 08:20
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Kuehne+Nagel has acquired a majority stake in the US company IMC Logistics. The Schwyz-based logistics group acquires 51 percent of the shares in the privately held US service provider for intermodal inland logistics.
With this acquisition, Kuehne+Nagel strengthens its ocean freight offering from US ports and rail hubs to inland customer locations, as the company announced on Thursday. This will further expand the Group's presence in the North American market. The transaction is expected to be completed in the first quarter of 2025, subject to approval by the antitrust authorities. The parties have agreed not to disclose further details.
IMC Logistics is headquartered in Collierville, Tennessee, and has a nationwide network of 49 locations. The company transports around 2 million standard containers (TEU) annually in intermodal traffic and generated revenue of around USD 800 million in 2023.
Asia and North America are the key growth markets for Kuehne's business. With the acquisition of a majority stake in IMC, Kühne is taking another important step in its strategy to expand its position in North America, said Jörg Wolle, Chairman of the Kühne Board of Directors.
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