Nagel-Group sells its airfreight business
15 / 01 / 2020
Food logistics firm Nagel-Group has sold its airfreight business to KOTRA-Logistics as it looks to concentrate on its core competencies.
Nagel Airfreight was founded in 1987 and has about 40 employees at three German locations: Frankfurt, Berlin, and Bremerhaven.
The airfreight business specialises in the distribution of fresh fish, an area of expertise for KOTRA-Logistics.
The transfer of the business will take place on February 1.
“The family business is the market leader in Benelux,” Germany-headquartered Nagel-Group said. “The company therefore offers Nagel Airfreight the decisive prerequisites to ensure further expansion in the fresh fish distribution sector. This offers employees and customers a long-term perspective in this market segment.”
Nagel-Group chief executive Carsten Taucke added: “In 2020 we will continue to optimise our structures and concentrate on our core competences.
“We invest in our strengths or look for established partners to provide services.”
The sale comes after the Nagel-Group announced an investment in two businesses in frozen food logistics segment over the last couple of months, adding to its frozen food logistics facilities in Germany.