Expanding its perishables network and connectivity for
customers to and from South Africa, UK and Kenya
Strengthening Kuehne+Nagel’s global position in perishables
logistics
Schindellegi / CH, June 6, 2023 – Kuehne+Nagel signed an agreement
to acquire Morgan Cargo, a leading South African, UK and Kenyan
freight forwarder specialised in the transport and handling of perishable
goods. During 2022 the company handled more than 40,000 tonnes of
air freight and more than 20,000 TEU of sea freight globally, managed
by approximately 450 logistics experts.
The acquisition of Morgan Cargo ideally complements Kuehne+Nagel’s
perishables logistics service offering, while improving connectivity for
customers to and from South Africa, the UK and Kenya, which includes
state-of-the-art cold chain facilities.
Yngve Ruud, Member of the Management Board of Kuehne+Nagel,
responsible for Air Logistics, commented: “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, CEO 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, including clearance by
the competent merger control authorities.