[050818.EN.BIZ] Kuehne + Nagel Acquires Perishables Company Panatlantic Logistics of Ecuador

SWISS forwarding giant Kuehne + Nagel (K+N) has completed the acquisition of the perishables business of Panatlantic Logistics, Ecuador in a move to strengthen its position in the export market to the US, Europe and the Asia-Pacific region.

Member of the managing board of K+N International, responsible for airfreight, Yngve Ruud, said: "Perishables Logistics is a strong growth driver for K+N. After the integration of two market leaders in 2017 the acquisition of the perishables business of Panatlantic Logistics S A marks another important step in our global strategy.

"Our KN FreshChain offers scalable solutions and highest standards for transportation of temperature sensitive perishable products.

"With Panatlantics Logistics on board we further strengthen and expand our fresh chain network - the largest in the logistics industry for perishables - connecting key production countries to major markets."

Panatlantic Logistics S A was founded in 1979 and is headquartered in Ecuador's capital city, Quito where operations are carried out in a temperature-controlled warehouse at the airport. The combined volume of K+N's current business portfolio and Panatlantic's will account for 32,000 tonnes air export perishables per annum out of Ecuador.

Together with the perishables business managed in Colombia, Peru, Brazil and Chile, K+N controls over 120,000 tonnes per annum of air export perishables in the South and Central America region, reports London's Air Cargo News.

"Our strong and reliable market position in Ecuador will add and generate new and multiple chances for growing perspectives and services," said Raul Aragundi, chief executive and shareholder of Panatlantic Logistics.

Ingo Goldhammer, K+N, president South and Central American region, added: "By acquiring this specialised player, K+N consolidates its leading position in one of South America's key perishables export markets, and, at the same time, considerably strengthens its position in the regional airfreight markets.

"Beyond combined volumes and generation of synergies with our existing operations, we will enhance the service and value add offering to our customers, using the experience of both companies."

Source : HKSG.