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."
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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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