Kuehne + Nagel acquires CFI, strengthens position in perishables logistics
July 18, 2017: Kuehne + Nagel has acquired two companies, the USA based leading airfreight forwarder of perishables products CFI - Commodity Forwarders Inc., and perishables specialists in Kenya Trillvane Ltd. With this acquisition, Kuehne + Nagel expands its global perishables network by adding more than 150,000 tonnes of perishables and further strengthens its position in providing end-to-end international and domestic fresh chain solutions.
Yngve Ruud, a member of the Management Board of Kuehne + Nagel International AG, responsible for Airfreight Logistics, said, “The two acquisitions mark another important step in our global perishable logistics strategy. These two transactions further strengthen and expand our fresh chain 2 of 2 network connecting key production countries to major consumer markets. The business potential in the steadily growing global perishable sector is huge. Based on our dedicated network – by now the largest in the logistics industry for perishables – and globally integrated IT systems we can scale business opportunities and accelerate our growth in this sector with end-to end transparency. At the same time, we improve our global and national positioning in airfreight. Together with CFI Kuehne + Nagel becomes the number 2 airfreight forwarder in the United States and the acquisition of Trillvane confirms our leading position in Kenya.”
CFI was 1974 established by Alfred Kuehlewind as a one-man office in Los Angeles shipping strawberries to Europe operates 14 locations throughout the United States including Alaska and Hawaii with more than 700 employees. The company is specialised in air freight export and import as well as the distribution of seafood, all kinds of agricultural products, flowers and greens.
Alfred Kuehlewind, founder and CEO of CFI, “We are looking forward to becoming part of the Kuehne + Nagel Group. The planned transaction will offer us new growth perspectives and access to a global logistics network. Both companies’ customers will benefit from an extended service scope.”
The acquisition of Trillvane Ltd, Kenya, will enable Kuehne + Nagel to strengthen its position in perishables operations between Kenya and Europe, in particular to the UK. With its 130 employees, Trillvane is specialised in the export of flowers and vegetables. Its location at the Jomo Kenyatta International Airport in Nairobi provides easy and quick access to all major airlines allowing for later cut-offs and shorter transit times leading to both cost savings and optimal handling of temperature sensitive goods.
All parties agreed not to disclose the purchase price. Both transactions are subject to customary closing conditions and clearance by the competent merger control authorities.