Kuehne+Nagel, a global logistics provider, has announced its acquisition of IMC Logistics, a U.S. company specializing in marine drayage services.
Kuehne+Nagel is making a big move to grow even stronger in the United States. This company, based in Switzerland, helps transport goods around the world by land, sea, and air. Now, Kuehne+Nagel has bought 51% of U.S. company IMC Logistics, which is well-known for moving shipping containers from ports or rail stations to nearby warehouses or customer locations.
IMC Logistics, located in Collierville, Tennessee, has about 1,700 employees and is well-respected in the U.S. logistics industry. They move about two million containers each year and earn around $800 million in 2023.
Kuehne+Nagel, which made $26.78 billion in revenue that same year, believes this purchase will help it improve its service in the U.S. by making it easier to connect goods from other countries to their final destinations within the country. IMC will keep its brand name. This deal is part of Kuehne+Nagel’s bigger plan to expand in places like North America and Asia, where they see a lot of potential for growth.
Joerg Wolle, the chairman of Kuehne+Nagel, explained that the company likes to grow by building up its existing business, but it also sees the value in buying smaller, specialized companies when it makes sense. By adding IMC to its team, Kuehne+Nagel can better serve customers in North America, working more closely with companies and transport carriers in that region.
The deal is expected to be completed in early 2025 after getting approval from U.S. authorities. This acquisition allows Kuehne+Nagel to reach even more American businesses and offer more transportation solutions for getting goods to people efficiently and on time. With the global logistics industry becoming more complex, especially as online shopping increases and customers expect faster deliveries, this deal is a way for Kuehne+Nagel to keep up with these demands.
IMC’s founder, Mark H. George, sees this as a great chance for IMC’s employees and services to grow. George said that working with Kuehne+Nagel will help IMC offer even better service and open up new career possibilities for its workers. He’s hopeful that the new partnership will allow IMC to expand, while still holding onto the values of the family-founded business he built.
By leveraging their expertise and resources, Lading Logistics aims to provide efficient and reliable international shipping and logistics solutions for their clients.
