Kuehne+Nagel has acquired a majority stake in IMC Logistics (IMC), a leading provider of maritime transport services in the United States. As both companies announced, Kuehne+Nagel will take over 51% shares in the private company. IMC specializes in comprehensive transport solutions to and from seaports or rail hubs and customer facilities in the United States. Thanks to this investment, Kuehne+Nagel increases its access to one of the most important logistics networks in North America and provides flexible solutions in times of increasing disruptions in the supply chain. The IMC brand will be retained.
IMC is headquartered in Collierville, Tennessee, and has over 40 years of experience in delivering intermodal solutions for maritime logistics in the United States. Kuehne+Nagel and IMC have been long-term partners. IMC’s national network includes 49 locations in major American seaports and rail hubs. The company handles 2 million TEUs per year in intermodal and rail transport. Employing about 1,700 staff and having an extensive network of independent contractors, IMC generated revenues of about $800 million in 2023.
Dr Joerg Wolle, Chairman of the Board of Directors of Kuehne+Nagel International AG, comments: “Kuehne+Nagel’s strategy is based on organic growth supported by targeted bolt-on acquisitions. Asia and North America are key growth markets for our business, where we have achieved a leading position which we systematically develop. In the case of IMC in the USA, just like with the acquisition of Apex in Asia, we rely on long-term partnerships. This reduces the risk of acquisition, ensures quick success through deepening already satisfactory cooperation. The acquisition of a majority stake in IMC represents another important strategic step. We are expanding our leading position in North America for the benefit of our customers and closer cooperation with our partners, especially carriers”.
Stefan Paul, Managing Director of Kuehne+Nagel International AG, comments: “International maritime logistics is a very complex business in which trade flows in the USA play a crucial role. The range of IMC’s capabilities significantly extends our service offer and allows us to develop even more attractive solutions for our customers’ value chains in maritime transport”.
Mark H. George, President and Founder of IMC Logistics adds: “We are taking advantage of the opportunity to partner with Kuehne+Nagel, one of the leading logistics companies in the world, to take our family company to new heights and grow together. Combining our knowledge and offering in land-based container logistics with the global reach of Kuehne+Nagel will provide exceptional services for our customers and create new development opportunities for our colleagues”.
The transaction is expected to be finalized at the beginning of the first quarter of 2025. Both parties agreed not to disclose further details of the transaction at this moment. The transaction is subject to approval by regulatory authorities and customary closing conditions.
Source: https://ceo.com.pl/kuehnenagel-przejmuje-wiekszosciowe-udzialy-w-imc-logistics-w-stanach-zjednoczonych-67379
