K+N acquires time critical shipments firm Quick International Courier
Nov 21, 2018: Today, Kuehne + Nagel has acquired Jamaica-headquartered Quick International Courier, a market leading provider of time-critical transportation and logistics solutions globally.
Quick is an industry specialist in providing tailor-made solutions to the aviation and pharma & healthcare industries, generating above USD 200 million annual net revenue. Quick consists of Sterling Aviation, QuickSTAT, Quick Healthcare and Quick Logistics who will continue to operate as independent product brands.
“Kuehne + Nagel’s M&A strategy is focused on expanding our footprint, creating synergies and acquiring know how. The acquisition of Quick is another accelerator to drive network growth and to enhance our global customer solutions portfolio,” says Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG.
“This acquisition is an important milestone in the implementation of our solutions strategy and a confirmation of our leading position in airfreight. Our customers will benefit from a much greater scope of services and capability for time-critical shipments, while Quick’s customers will get access to Kuehne + Nagel’s global network across more than 100 countries,” says Yngve Ruud, member of the Managing Board of Kuehne + Nagel, responsible for airfreight.
Founded in 1981, Quick has about 550 employees specialised in “Next Flight Out” and “Next Drive Out” shipments among others. These shipments are usually urgent in nature and often global, complex and logistics intense with a high cost of failure while operated with strictly defined protocols and control points from order to delivery. Quick deploys different key regional support centres and control towers all over the world.
“Joining forces with one of the leading logistics providers offers us new growth perspectives within a worldwide operating network”, says Dominique Bischoff-Brown, CEO of Quick International Courier.
Both parties agreed not to disclose the purchase price.
The acquisition is subject to customary closing conditions and to clearance by the competent merger control authorities.