KUEHNE & NAGEL ACQUIRES USCO LOGISTICS
Kuehne & Nagel International AG, a of global logistics service provider, has completed the acquisition of USCO Logistics, a Hamden, Conn.-based company which focuses on transportation and warehouse management. The acquisition cost a reported $300 million.
USCO will operate an integrated service unit within Kuehne & Nagel, allowing USCO to utilize Kuehne & Nagel's global infrastructure for moving freight.
The USCO acquisition will provide the Switzerland-based, Kuehne & Nagel, with access to North American markets. K&N has been expanded beyond its European base. Prior to the USCO acquisition, it entered into an alliance with SembCorp Logistics Ltd., Singapore, to expand its logistics operations in the Asia-Pacific region.