Monday, June 29, 2015

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Kuehne + Nagle to buy multimodal freight brokerage ReTrans



Kuehne + Nagel Group has made a deal to acquire ReTrans, a U.S.-based provider of multimodal transportation management solutions, according to a company statement.

Headquartered in Memphis, ReTrans is a leading U.S. non-asset brokerage provider of intermodal transportation, as well as full and less-than-truckload services in the U.S. and Canada. With more than 300 employees, the company operates in 68 locations and generates annual revenues that exceed $500 million, according to the K+N release.

"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 sea freight, airfreight and contract logistics operations, this transaction will accelerate our growth."

The transaction is still subject to approval by U.S. regulatory agencies. According to the statement, both parties agreed not to disclose the purchase price.

Kuehne + Nagel says the purchase will strengthen its overland strategy and its position as an end-to-end logistics provider in North America.


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