Kuehne + Nagel has entered into a binding agreement to acquire Asian logistics provider Apex International Corporation.

Apex International will continue to operate separately within the Kuehne + Nagel Group; a small shareholding will be retained by the Apex management.

Dr. Joerg Wolle, chairman of the board of directors Kuehne + Nagel, said that the company is accelerating its growth in the region: “The acquisition of Apex is a further important cornerstone in our strategy and significant fulfilment of the Group’s Asia Pacific ambition.”

Dr. Detlef Trefzger, ceo of Kuehne + Nagel, said the deal would enhance its capabilities primarily in the e-commerce, hi-tech and e-mobility sectors.

The acquisition is subject to customary closing conditions.