Kuehne+Nagel acquires leading South African freight forwarder Morgan Cargo

Kuehne+Nagel acquires Morgan Cargo (Photo: Kuehne+Nagel) 

During 2022, Morgan Cargo handled over 40,000 tons of air freight and more than 20,000 TEUs of sea freight globally, managed by approximately 450 logistics experts.

Kuehne+Nagel stated that the acquisition of Morgan Cargo complements their perishables logistics service offering, while also improving connectivity for clients to and from South Africa, the United Kingdom, and Kenya.

"Expansion in high-growth markets such as Africa clearly ties into our Roadmap 2026 and reinforces our commitment to the Middle East and Africa Region," commented Yngve Ruud, a member of the management board of Kuehne+Nagel responsible for air logistics.

According to Kuehne+Nagel, the acquisition is expected to be completed in the third quarter of 2023 and is subject to standard closing conditions, including approval from relevant merger control authorities.

"This new development will provide greater opportunities for our customers in terms of global reach and allow our team to advance their careers beyond the realm that was previously possible," added Schalk Bruwer, CEO of Morgan Cargo.

The sector is clearly important to the Switzerland-based forwarder - in its first-quarter results, Kuehne+Nagel highlighted that it has gained market share in the air cargo perishables market.

Source: Phaata.com (According to Kuehne+Nagel)

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