Kuehne+Nagel expands in Africa with latest acquisition
06 / 06 / 2023
Kuehne+Nagel has expanded its presence in Africa and the perishables market through the acquisition of Morgan Cargo.
The acquired forwarder has a presence in South Africa, Kenya and the UK, employs around 450 people and in 2022 handled more than 40,000 tonnes of airfreight and 20,000 TEU of seafreight.
The company also offers “state-of-the-art” cold chain facilities, Kuehne+Nagel said.
Yngve Ruud, member of the management board of Kuehne+Nagel, responsible for air logistics, said: “With Morgan Cargo, we acquire a reliable logistics service provider for the benefit of our customers.
“Expansion in high-growth markets such as Africa clearly ties into our Roadmap 2026 and reinforces our commitment to the Middle East and Africa Region. We have been active in Africa for many years, but this acquisition is an ideal addition to our regional presence.”
Schalk Bruwer, chief executive of Morgan Cargo, added: “We wanted to expand our successful family-owned business and took the opportunity to become part of one of the world leaders in logistics.
“This new development will provide greater opportunities for our customers in terms of global reach and allow our team to advance their careers beyond the realm that was previously possible. Morgan Cargo is extremely excited to become part of Kuehne+Nagel.”
Closing of the transaction is expected during the third quarter of 2023 and is subject to customary closing conditions.
The sector is clearly of importance to the Switzerland-based forwarder – in its first quarter results, Kuehne+Nagel highlighted that it has gained market share in the air cargo perishables market.
Meanwhile, the company last year also created a new Africa cluster as part of efforts to expand its efforts on the continent.