K+N Quick off the mark with global courier acquisition
21 / 11 / 2018
Logistics giant Kuehne+Nagel (K+N) has acquired Quick International Courier, a specialist in tailor-made solutions to the aviation, pharma & healthcare industries, generating more than $200m in annual net revenue.
Quick consists of Sterling Aviation, QuickSTAT, Quick Healthcare and Quick Logistics, which will continue to operate as independent product brands.
Both parties agreed not to disclose the purchase price. The acquisition is subject to customary closing conditions and to clearance by the competent merger control authorities.
Detlef Trefzger, chief executive of Switzerland-based parent group K+N International, said: “Kuehne + Nagel’s merger and acquisition strategy is focused on expanding our footprint, creating synergies and acquiring know how. The acquisition of Quick is another accelerator to drive network growth and to enhance our global customer solutions portfolio.”
Yngve Ruud, K+N managing board member responsible for airfreight, said: “This acquisition is an important milestone in the implementation of our solutions strategy and a confirmation of our leading position in airfreight.
“With its unique expertise in time-critical shipments in the fields of aviation and pharma & healthcare – both key strategic focus and investment areas for K+N – the company perfectly complements our existing global portfolio.
“Our customers will benefit from a much greater scope of services and capability for time-critical shipments, while Quick’s customers will get access to K+N’s global network across more than 100 countries.”
Founded in 1981 and headquartered in Jamaica, New York, Quick has about 550 employees specialised in ‘Next Flight Out’ and ‘Next Drive Out’ shipments.
Said K+N: “These shipments are usually urgent in nature and often global, complex and logistics intense with a high cost of failure while operated with strictly defined protocols and control points from order to delivery. Quick deploys different key regional support centres and control towers all over the world.”
Dominique Bischoff-Brown, chief executive of Quick International Courier, said: “We are looking forward to become part of the Kuehne + Nagel Group. Joining forces with one of the leading logistics providers offers us new growth perspectives within a worldwide operating network.”
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