New York-based company specializes in time-critical transportation and logistics solutions.
Kuehne + Nagel on Wednesday announced the acquisition of Quick International Courier, a global provider of time-critical transportation and logistics solutions.
Kuehne + Nagel described Quick as an industry specialist in providing tailor-made solutions to the aviation and pharma and healthcare industries, generating more than $200 million in annual net revenue.
Quick consists of Sterling Aviation, QuickSTAT, Quick Healthcare and Quick Logistics, which will continue to operate as independent product brands.
“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,” said Detlef Trefzger, CEO of Kuehne + Nagel International AG.
Founded in 1981 and headquartered in Jamaica, N.Y., Quick has about 550 employees focused on “next flight out” and “next drive out” shipments. Kuehne + Nagel said these shipments are usually urgent in nature and often global, complex and logistics-intense with a high cost of failure while operated with strictly defined protocols and control points from order to delivery.
Yngve Ruud, a member of the Kuehne + Nagel managing board responsible for airfreight, 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 and healthcare — both key strategic focus and investment areas for Kuehne + Nagel — the company perfectly complements our existing global portfolio.”
Both parties agreed not to disclose the purchase price. The acquisition is subject to customary closing conditions and to clearance by the competent merger control authorities.
Kuehne + Nagel described Quick as an industry specialist in providing tailor-made solutions to the aviation and pharma and healthcare industries, generating more than $200 million in annual net revenue.
Quick consists of Sterling Aviation, QuickSTAT, Quick Healthcare and Quick Logistics, which will continue to operate as independent product brands.
“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,” said Detlef Trefzger, CEO of Kuehne + Nagel International AG.
Founded in 1981 and headquartered in Jamaica, N.Y., Quick has about 550 employees focused on “next flight out” and “next drive out” shipments. Kuehne + Nagel said these shipments are usually urgent in nature and often global, complex and logistics-intense with a high cost of failure while operated with strictly defined protocols and control points from order to delivery.
Yngve Ruud, a member of the Kuehne + Nagel managing board responsible for airfreight, 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 and healthcare — both key strategic focus and investment areas for Kuehne + Nagel — the company perfectly complements our existing global portfolio.”
Both parties agreed not to disclose the purchase price. The acquisition is subject to customary closing conditions and to clearance by the competent merger control authorities.
