Group strives to expand its perishables network and connectivity for customers to and from South Africa, UK and Kenya
Kuehne and Nagel has 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, Morgan Cargo handled more than 40,000 tonnes of airfreight and more than 20,000 TEU of seafreight globally, managed by approximately 450 logistics experts.
Kuehne and Nagel said that the acquisition of Morgan Cargo complemented its 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.
“With Morgan Cargo, we acquire a reliable logistics service provider for the benefit of our customers,” said Yngve Ruud, member of the management board of Kuehne and Nagel.
”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,” Ruud noted. ”We have been active in Africa for many years, but this acquisition is an ideal addition to our regional presence.”
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.
“We wanted to expand our successful family-owned business and took the opportunity to become part of one of the world leaders in logistics,” said Schalk Bruwer, CEO of Morgan Cargo.
”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,” Bruwer added. “Morgan Cargo is extremely excited to become part of Kuehne and Nagel.”