Two weeks after the European Commission approved the acquisition of ACR Logistics, Kuehne+Nagel has finalized the transaction. The merger will combine these two comprehensively complementary companies and leverage their long-standing market experience. Employing over 40,000 people in more than 100 countries, the Kuehne+Nagel Group has thus entered the top five global logistics service providers.
– The acquisition of ACR Logistics is a milestone for our organization – said Klaus-Michael Kuehne, Chairman of the Board of Kuehne+Nagel International AG. – It is an excellent strategic investment that will contribute to increasing the number of our contracts and deepening the knowledge and competence of our management.
ACR Logistics will now operate under the name Kuehne+Nagel and will become an integral part of the Group’s structure. Thanks to an increased customer base, Kuehne+Nagel expects high sales, especially in Eastern Europe and Asia, as well as further profit growth.
ACR Logistics will now operate under the name Kuehne+Nagel and will become an integral part of the Group’s structure. Thanks to an increased customer base, Kuehne+Nagel expects high sales, especially in Eastern Europe and Asia, as well as further profit growth.
– We share with Kuehne+Nagel a philosophy of creating the highest value for the customer and developing logistics solutions that provide us with a competitive advantage. I am convinced that together we have a better chance of becoming the best logistics service provider on the market – said Xavier Urbain, former CEO of ACR Logistics, who joined the Kuehne+Nagel Group management as head of the newly created South-West Europe region on January 1, 2006.
Kuehne+Nagel acquired the entire share capital of ACR Logistics Holding B.V. for 440 million euros. The transaction was financed with cash and the sale of 1,700,000 company shares (at a price of 295.50 Swiss francs per share). The consolidation of the ACR Group took place on January 1, 2006.