Kuehne + Nagel Acquires Quick International Courier
Switzerland-based transport and logistics company, Kuehne + Nagel recently announced the acquisition of a leading provider of time-critical transportation and logistics solutions, Quick International Courier.
With an annual net revenue of more than USD 200 million, Quick is a leader in their field of providing tailor-made solutions to the aviation and pharma & healthcare industries. Quick comprises of Quick Logistics, Quick Healthcare, QuickSTAT and Sterling Aviation each of which will continue to operate as independent product brands.
Kuehne + Nagel International AG CEO, Dr. Detlef Trefzger said, “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.”
Member of the Managing Board for Kuehne + Nagel and responsible for airfreight, Yngve Ruud said, “This acquisition is an important milestone in the implementation of our solutions strategy and a confirmation of our leading position in airfreight. With its unique expertise in time-critical shipments in the fields of aviation and pharma & healthcare – both key strategic focus and investment areas for Kuehne + Nagel – the company perfectly complements our existing global portfolio. 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.”
Quick was found in 1981 with their initial headquarters in Jamaica, NY, the company has approximately 550 full-time employees who specialized in “Next Flight Out” and “Next Drive Out” shipments.
Quick International Courier CEO, Dominique Bischoff-Brown said about the acquisition, “We are looking forward to becoming part of the Kuehne + Nagel Group. Joining forces with one of the leading logistics providers offers us new growth perspectives within a worldwide operating network.”
As with all acquisitions, the deal is subject to customary closing conditions and to clearance by the competent merger control authorities. Both parties have agreed to not disclose the financials involved.