The Kuehne + Nagel Group has entered into an agreement to acquire 100 percent of the shares of ReTrans Inc., a US-based provider of multimodal transport management solutions. The acquisition is in line with the Kuehne + Nagel Group’s overland transport strategy and will significantly contribute to strengthening the company’s position as an end-to-end logistics operator in North America.
ReTrans was founded in 2002 and is headquartered in Memphis, Tennessee. It is among the leading US intermodal transport operators and also provides full truckload (FTL) and less-than-truckload (LTL) services in the United States and Canada. The company employs 300 people, operates in 68 locations, and generates annual revenues exceeding 500 million USD.
– The transaction with ReTrans underscores our strategy of organic growth and growth through complementary acquisitions. Our customers will benefit from comprehensive, end-to-end supply chain solutions in North America. Combined with our sea freight, air freight, and contract logistics operations, this transaction will accelerate our growth – says Dr. Detlef Trefzger, CEO of the Kuehne + Nagel Group.
– Through the acquisition of ReTrans, we gain expertise in intermodal transport with direct access to major North American rail companies, an innovative LTL brokerage business, as well as a platform for managing transport services – says Stefan Paul, Executive Vice President of Overland Transport.
– We are excited and look forward to significantly growing our business through ReTrans and Kuehne + Nagel customers – says David Wedaman, President of ReTrans, who will assume combined responsibility for ReTrans and Kuehne + Nagel’s overland transport operations in the USA. – Our customers will certainly be pleased to join the global Kuehne + Nagel network and benefit from a wider range of services.
The transaction is still subject to approval by the relevant regulatory authorities in the USA. Both parties have agreed that the purchase price will not be disclosed.