Swiss-based logistics giant Kuehne + Nagel Group has entered into an agreement to acquire 100 per cent of the shares of ReTrans, a US-based provider of multimodal transportation management solutions.
The acquisition reportedly builds on Kuehne + Nagel’s overland strategy and aims to strengthen the company’s position as an end-to-end logistics provider in North America.
“The transaction with ReTrans underlines our strategy to grow organically and through complementary acquisitions,” said Dr. Detlef Trefzger, CEO of the Kuehne + Nagel Group.
“Our customers will benefit from comprehensive end-to-end supply chain solutions in North America. Combined with our strong seafreight, airfreight and contract logistics operations, this transaction will accelerate our growth.”
Stefan Paul, Executive Vice President 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 US.
“Our customers will be pleased with the access to Kuehne + Nagel’s global network and to take advantage of the expanded range of services.”
Founded in 2002 and based in Tennessee, ReTrans is a non-asset brokerage provider of intermodal transportation, as well as full and less-than-truckload services in the United States and Canada. With more than 300 employees the company operates in 68 locations and generates annual revenues exceeding US$500 million.