Kuehne + Nagel is expanding its logistics division with the acquisitions of Jöbstl Group, a medium-sized logistics company based in Austria, and Worldwide Perishable Canada Co. (WWP), a large perishables cargo company based in Canada.
With its integration into Kuehne + Nagel, Jöbstl Group will provide the overall group access to its existing overland network in Eastern Europe and 130 overland branch offices across Europe. This in turn, will allow the Swiss logistics provider to increase departure frequencies and shorten lead times in Europe.
The acquisition of Jöbstl Group also includes SLM Spedition und Logistik GmbH, Vienna and is currently pending approval by antitrust authorities.
WWP, on the other hand, will expand Kuehne + Nagel’s perishables logistics network in Canada. After the acquisition, Kuehne + Nagel will be responsible for more than 17,000 tons of perishable cargo exports leaving the country.
The acquisition announcements follow Kuehne + Nagel’s second quarter results, which showed a 5.8% drop in air cargo volumes.Like This Post