Swiss-owned logistics specialist extends reach in North America with addition of sizeable network of intermodal transport connections
Kuehne & Nagel has acquired a majority stake in IMC Logistics, a leading provider of so-called ‘marine drayage’ in the US.
As announced by both companies, the Swiss-owned group will acquire 51 per cent of the Tennessee-based company, which operates transport connections to and from seaports or rail hubs, customer facilities and inland destinations.
The investment is expected to enhance K&N’s access to one of the most important logistics networks in North America, and ensure “flexible transportation solutions in times of increasing supply chain disruptions”.
According to a press statement, IMC has more than four decades’ experience in providing intermodal solutions for sea logistics, and has worked with K&N for a long time.
IMC’s national network includes 49 locations, with a strategic presence at major US ports and rail hubs.
It handles 2mn TEUs per year in intermodal drayage and rail operations, and reportedly generated revenue of around US$800mn in 2023.
Systematic expansion
Joerg Wolle, chairman of Kuehne & Nagel International, said his group’s strategy was based on organic growth supported by targeted bolt-on acquisitions.
“Asia and North America are the key growth markets for our business, where we have established a leading position which we systematically expand,” he commented.
“We are further expanding our leading position in North America for the benefit of our customers and closer cooperation with our partners, particularly the carriers.”
K&N chief executive Stefan Paul said: “International sea logistics is a highly complex business with many interfaces and stakeholders, in which US trade flows are of central importance.
“IMC’s range of capabilities significantly expands our service offering and allows us to develop even more attractive solutions for the value chains of our seafreight customers.”
New opportunities
Mark George, chairman and founder of IMC Logistics, added: “We embrace the opportunity to partner with Kuehne & Nagel, one of the world’s leading logistics companies, to elevate our family-founded business to new heights and to grow together.
“Combining our landside container logistics expertise and offering with Kuehne & Nagel’s global reach will deliver exceptional services for our customers and create new career growth opportunities for our colleagues.”
The transaction is expected to be completed at the beginning of the first quarter of 2025, and IMC will continued to operate under its existing name.
The deal remains subject to approval from regulatory authorities and customary closing conditions.
