Kuehne + Nagel Group, the Swiss-based transportation and logistics giant, said yesterday it had acquired ReTrans Inc., a U.S.-based truck and rail intermodal service provider based in Memphis, Tenn. Terms of the transaction, which must be cleared by U.S. government authorities, were not disclosed.
Kuehne + Nagel said the acquisition expands its position in the U.S. market and adds land-based services to its core international air and ocean freight and contract logistics operations. ReTrans operates in 68 locations with annual revenue of more than $500 million.
Detlef Trefzger, Kuehne + Nagel's CEO, said in a statement that customers will "benefit from comprehensive end-to-end supply chain solutions in North America." Stefan Paul, the company's executive vice president, overland, added that the acquisition provides it with "expertise in intermodal transportation with direct access to the most important North American railroad companies, an innovative [less-than-truckload] brokerage business and a platform to provide managed transportation services."
ReTrans' President Devid Wedaman will assume the combined responsibility for the ReTrans and Kuehne + Nagel overland business in the U.S., Kuehne + Nagel said.