Global logistics company, Kuehne + Nagel, has completed the acquisition of perishables business, Panatlantic Logistics, strengthening its position in the export market to the US, Europe and Asia Pacific regions.
“Perishables Logistics is a strong growth driver for Kuehne + Nagel,” said member of the Managing Board of Kuehne + Nagel International, responsible for Airfreight, Yngve Ruud.
“After the integration of two market leaders in 2017 the acquisition of the perishables business of Panatlantic Logistics marks another important step in our global strategy.
“Our KN FreshChain offers scalable solutions and highest standards for transportation of temperature sensitive perishable products. With Panatlantics Logistics on board we further strengthen and expand our fresh chain network – the largest in the logistics industry for perishables – connecting key production countries to major markets.”
Panatlantic Logistics was founded in 1979 and is headquartered in Ecuador’s capital city, Quito. Operations are carried out in a temperature-controlled warehouse at Quito airport. The combined volume of Kuehne + Nagel´s current business portfolio and Panatlantic´s will account for 32,000 tonnes air export perishables per annum out of Ecuador. Together with the perishables business managed in Colombia, Peru, Brazil and Chile, Kuehne + Nagel controls over 120,000 tonnes per annum of air export perishables in the South and Central America region.
“We are very proud to become part of the Kuehne + Nagel Group,” said Panatlantic Logistics CEO and shareholder, Raúl Aragundi. “By joining forces we will co-create an enormous potential of opportunities for our customers. Our strong and reliable market position in Ecuador will add and generate new and multiple chances for growing perspectives and services.”