Kuehne + Nagel has announced that it has successfully completed the acquisition of the perishables business of Panatlantic Logistics S.A., Ecuador.
Panatlantic is one of the market leaders in the country in airfreight transportation of perishable products.
The acquisition will enable Kuehne + Nagel to strengthen its position in the export market to the United States, Europe and the Asia-Pacific region.
Yngve Ruud, member of the Managing Board of Kuehne + Nagel International AG, responsible for Airfreight, said: “Perishables Logistics is a strong growth driver for Kuehne + Nagel.
“After the integration of two market leaders in 2017 the acquisition of the perishables business of Panatlantic Logistics S.A. marks another important step in our global strategy.
“Our KN FreshChain offers scalable solutions and highest standards for transportation of temperature sensitive perishable products.
“With Panatlantics Logistics on board we further strengthen and expand our fresh chain network – the largest in the logistics industry for perishables – connecting key production countries to major markets.”
Raúl Aragundi, CEO and shareholder of Panatlantic Logistics S.A, said: “We are very proud to become part of the Kuehne + Nagel group.
“By joining forces we will co-create an enormous potential of opportunities for our customers. Our strong and reliable market position in Ecuador will add and generate new and multiple chances for growing perspectives and services.”
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