Kuehne + Nagel to Acquire ReTrans
The Kuehne + Nagel Group has entered into an agreement to acquire ReTrans Inc., a U.S. transportation broker.
TheMemphis-based ReTrans was founded in 2002 and brokerage services for intermodal transportation, as well as full and less-than-truckload services in the United States and Canada. The company employees over 300 workers, operates in 68 locations, and generates annual revenues exceeding $500 million.
The acquisition builds on Kuehne + Nagel’s strategy to strengthen its 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 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.”
“By acquiring ReTrans we obtain expertise in intermodal transportation,” added Stefan Paul, executive vice president, “with direct access to the most important North American railroad companies, an innovative LTL brokerage business, and a platform to provide managed transportation services.”
David Wedaman, President of ReTrans, who will take over responsibility Kuehne + Nagel overland business in the U.S., said Retrans customers will benefit from the takeover. “Our customers will be pleased with the access to Kuehne + Nagel’s global network and to take advantage of the expanded range of services,” he said.
The transaction is subject to approval by the U.S. regulatory authorities. Both companies agreed not to disclose the purchase price.