Kuehne+Nagel (K+N) has acquired Asian forwarder Apex International, strengthening its foothold on the transpacific and intra-Asia trade routes.
The deal, first announced in February 2021, has received unconditional regulatory approvals from the competition authorities and should result in K+N becoming the world’s largest airfreight forwarder. In 2020, Apex handled approximately 750,000 tonnes of airfreight volumes and 190,000 teu of ocean cargoes.
Joerg Wolle, chairman of K+N International, said: “With the acquisition of Apex, Kuehne+Nagel complements its successful organic growth strategy and substantiates its strong position as one of the world’s largest logistics providers. With this transaction we are expanding the group’s service offering, networks and potential for growth, in Asia and globally.”