Swiss logistics group Kuehne+Nagel is set to acquire South African freight forwarder Morgan Cargo. The latter, which operates not only in South Africa, but also in Kenya and the UK, specializes in the transport of perishable goods.
The transaction is expected to close in the third quarter of 2023, subject to the usual closing conditions, including the approval of the relevant competition authorities.
According to a statement from the Swiss group, the acquisition will strengthen Kuehne+Nagel’s perishable logistics services while improving connectivity for its customers to and from South Africa, the UK and Kenya, thanks in particular to state-of-the-art cold chain facilities.
“With Morgan Cargo, we acquire a reliable logistics service provider for the benefit of our customers. 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. We have been active in Africa for many years, but this acquisition is an ideal addition to our regional presence.” according to Yngve Ruud, member of Kuehne+Nagel’s management board.
Schalk Bruwer, CEO of Morgan Cargo, said: “We wanted to expand our successful family-owned business and took the opportunity to become part of one of the world leaders in logistics. 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. Morgan Cargo is extremely excited to become part of Kuehne+Nagel.”
In 2022, Morgan Cargo handled more than 40,000 tonnes of air freight and over 20,000 TEU of sea freight worldwide, managed by some 450 logistics experts.
The Kuehne+Nagel Group is one of the world’s leading logistics service providers, with over 79,000 employees at almost 1,300 sites in nearly 100 countries. It operates in the fields of sea logistics, air logistics, road logistics and contract logistics.