K+N expands perishables network with Salmosped acquisition
09 / 07 / 2021
Kuehne+Nagel (K+N) is expanding its perishables network with the acquisition of Norwegian freight forwarder Salmosped, which specialises in the transportation of seafood.
Norway is one of the largest fish and aquaculture producers in the world and its exports have remained strong throughout the pandemic.
K+N said that over the years, it has developed a global perishables logistics network comprised of more than 70 stations to provide its end-consumers with an optimal product shelf life and maximum freshness.
The Salmosped transaction is subject to customary closing conditions, including clearance by the competent merger control authorities.
Dennis Verkooy, senior vice president of global perishables, and head of carrier Management air logistics, at K+N, commented: “Perishables logistics is a strong growth driver for Kuehne+Nagel.
“While we have been present in the seafood business in Norway for years, today’s acquisition strengthens our footprint in air freight exports from this important seafood producing country.
“We are looking forward to enlarging our Norwegian team with Salmosped’s specialists.”
Last week, K+N agreed to sell a 24.9% stake in recently acquired Apex International to private equity firm Partners Group.
The forwarder said that following the deal, it will work alongside Partners Group to implement a “transformational value creation plan” for the China-based forwarder with key initiatives including establishing new freight forwarding routes; identifying new growth verticals, such as healthcare; and M&A.
Partners Group will also join majority shareholder K+N Group with a seat on the Apex Board.