Kuehne and Nagel (K&N) has announced that it has successfully completed the acquisition of the perishables business of Ecuadorean group Panatlantic Logistics SA, one of the market leaders in the country in airfreight transportation of perishable products including fruit and vegetables.
According to K&N, the acquisition strengthens its position in the export market to the US, Europe and the Asia-Pacific region.
“Perishables Logistics is a strong growth driver for Kuehne and Nagel," said Yngve Ruud, member of the managing board of K&N International AG, responsible for airfreight. "After the integration of two market leaders in 2017 the acquisition of the perishables business of Panatlantic Logistics marks another important step in our global strategy.
"Our KN FreshChain offers scalable solutions and highest standards for transportation of temperature sensitive perishable products," Ruud continued. "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.”