Kuehne+Nagel to acquire ReTrans
The Kuehne + Nagel Group has entered into an agreement to acquire ReTrans Inc., a US-based provider of multimodal transportation management solutions.
June 29, 2015
By Denice Cabel
The Kuehne + Nagel Group has entered into an agreement to acquire ReTrans Inc., a US-based provider of multimodal transportation management solutions. The acquisition builds on Kuehne + Nagel’s overland strategy and will significantly strengthen the company’s position as an end-to-end logistics provider in North America.
Founded in 2002 and headquarted in Memphis, TN, ReTrans ranks among the leading US non-asset brokerage providers of intermodal transportation, as well as full and less-than-truckload (FTL and LTL) services in the US and Canada. With more than 300 employees the company operates in 68 locations and generates annual revenues exceeding US$500 million.
Dr. Detlef Trefzger, CEO of the Kuehne + Nagel Group, states: “The transaction with ReTrans underlines our strategy to grow organically and through complementary acquisitions. Our customers will benefit from comprehensive end-to-end supply chain solutions in North America. Combined with our strong seafreight, airfreight and contract logistics operations, this transaction will accelerate our growth.”
Stefan Paul, executive vice president Overland, adds: “By acquiring ReTrans we obtain expertise in intermodal transportation with direct access to the most important North American railroad companies, an innovative LTL brokerage business and a platform to provide managed transportation services.”
“We are excited and looking forward to significantly growing our business with ReTrans and Kuehne + Nagel’s customers”, says David Wedaman, president of ReTrans, who will take over the combined responsibility for the ReTrans and Kuehne + Nagel overland business in the U.S.A. “Our customers will be pleased with the access to Kuehne + Nagel’s global network and to take advantage of the expanded range of services.”