Kuehne + Nagel acquires two logistics firms in Germany

KUEHNE + NAGEL has acquired GL Kayser Spediteur and the Cordes & Simon Group to strengthen its network and market position in Germany, as well as expand its overland business in Europe.

Klaus Herms, CEO of Kuehne + Nagel International, said: "With GL Kayser and Cordes & Simon we are adding two companies with long-time experience and expertise to our group, taking an important further step in the realisation of our ambitious growth objectives.

The acquisitions significantly strengthen our network and market position in Germany, and provide us with an ideal platform to dynamically expand our overland activities in Europe."

Mainz-based GL Kayser, in the Rhine-Main region, has an annual turnover of EUR120 million (US$175.52 million) and 700 employees. It focuses on international and national overland activities. For its contract logistics business, GL Kayser has 120,000 square metres of warehouse space under management at four locations in the region.

Cordes & Simon, in Hagen in the North-Rhine Westphalia, has an annual turnover of EUR100 million and 550 employees. It focuses on national and international groupage. It also operates in the Berlin-Brandenburg region, as well as in Freiberg near Stuttgart and Villingen-Schwenningen.