Kuehne + Nagel Agrees to Buy ReTrans
Swiss logistics company Kuehne + Nagel Group announced an agreement to acquire ReTrans Inc., a Tennessee-based freight management company, to expand the buyer’s U.S. operations.
Kuehne + Nagel, which ranks No. 13 on the Transport Topics Top 50 list of the largest logistics companies in the United States, Canada and Mexico, didn’t disclose terms of the latest Transatlantic combination in the logistics industry this year.
Since January, FedEx Corp., No. 2 on the Transport Topics Top 100 list of the largest U.S. and Canada for-hire carriers, said it would spend about $5 billion to buy Dutch package and freight company TNT N.V. XPO Logistics, No. 12 on the Logistics 50, acquired control of France’s Norbert Dentressangle, No. 25 on the Logistics 50, in a $3.5 billion deal.
ReTrans, which is No. 18 among TT’s Top Freight Brokerage firms, is a specialist in intermodal, truckload and less-than-truckload services. Memphis-based ReTrans, which was founded in 2002, has more than 300 employees and generated annual revenue of more than $500 million, the buyer’s statement said.
“The transaction with ReTrans underlines our strategy to grow organically and through complementary acquisitions,” said Dr. Detlef Trefzger, CEO of Kuehne + Nagel. “Combined with our strong seafreight, airfreight and contract logistics operations, this transaction will accelerate our growth.”
“We are excited and looking forward to significantly growing our business with ReTrans and Kuehne + Nagel’s customers,” said ReTrans President David Wedaman. Wedaman will oversee U.S. operations of ReTrans and Kuehne + Nagel’s U.S. land freight business, the statement said.
The statement noted that the acquisition requires regulatory approval in the United States.
