Swiss transport giant, Keuhne + Nagel have expanded their presence in South and Central America following the acquisition of perishables business Panatlantic Logistics SA.
With the merged companies’ combined business portfolios, they will now have the capacity to airfreight 32,000 tonnes of perishables each year out of Ecuador.
“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 marks another important step in our global strategy,” said Yngve Ruud, member of the managing board of Keune + Nagel, and responsible for airfreight.
“Our ‘fresh chain’ offers scalable solutions and highest standards for transportation of temperature sensitive perishable products. With Panatlantic Logistics on board we further strengthen and expand our fresh chain network connecting key production countries to major markets,” he noted.
Raul Aragundi, CEO and shareholder of Panatlantic Logistics mentions the company is equally as pleased with the merger, and that it is proud to be associated with Keuhne + Nagel.
“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," he said.
In January, Keuhne + Nagel also signed a memorandum of understanding with Singapore-based investment company, Temasek, committing to investment in technology for the advancement of their channels in the global supply chain.