Kuehne+Nagel Expands Perishables Logistics Services with Acquisition of Morgan Cargo

Kuehne+Nagel Expands Perishables Logistics Services with Acquisition of Morgan Cargo

(IN BRIEF) Kuehne+Nagel, a global logistics and supply chain solutions provider, has announced its agreement to acquire Morgan Cargo, a prominent freight forwarder specializing in perishable goods transportation in South Africa, the UK, and Kenya. Morgan Cargo managed over 40,000 tonnes of air freight and 20,000 TEU of sea freight in 2022 with a team of 450 logistics experts. This acquisition will enhance Kuehne+Nagel’s perishables logistics services and improve connectivity for customers in these regions. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions and regulatory approvals.

(PRESS RELEASE) SCHINDELLEGI, 6-Jun-2023 — /EuropaWire/ — Kuehne+Nagel (SWX: KNIN), one of the world’s leading logistics companies, is pleased to announce the signing of an agreement to acquire Morgan Cargo, a renowned freight forwarder specializing in the transportation and handling of perishable goods across South Africa, the United Kingdom, and Kenya. With a track record of excellence, Morgan Cargo has successfully managed over 40,000 tonnes of air freight and more than 20,000 TEU of sea freight worldwide in 2022, all skillfully coordinated by their team of approximately 450 dedicated logistics professionals.

The strategic acquisition of Morgan Cargo by Kuehne+Nagel will significantly enhance the company’s perishables logistics service portfolio. This collaboration will facilitate improved connectivity for customers, providing seamless transportation solutions to and from South Africa, the UK, and Kenya, all while leveraging state-of-the-art cold chain facilities.

Yngve Ruud, Member of the Management Board of Kuehne+Nagel, responsible for Air Logistics, commented: “With Morgan Cargo, we acquire a reliable logistics service provider for the benefit of our customers. Expansion in high-growth markets such as Africa clearly ties into our Roadmap 2026 and reinforces our commitment to the Middle East and Africa Region. We have been active in Africa for many years, but this acquisition is an ideal addition to our regional presence.”

Schalk Bruwer, CEO of Morgan Cargo, added: “We wanted to expand our successful family-owned business and took the opportunity to become part of one of the world leaders in logistics. This new development will provide greater opportunities for our customers in terms of global reach and allow our team to advance their careers beyond the realm that was previously possible. Morgan Cargo is extremely excited to become part of Kuehne+Nagel.”

The closing of this transaction is expected to take place in the third quarter of 2023, pending customary closing conditions, including clearance by the competent merger control authorities. This milestone further solidifies Kuehne+Nagel’s commitment to expanding its global reach and strengthening its position as a leading player in the perishables logistics sector.