Freight News, Logistics, Business

KN sells UK contract logistics business

[ March 9, 2020   //   ]

Kuehne + Nagel is to sell a major part of its UK contract logistics portfolio to XPO Logistics, including the drinks, food services and retail and technology businesses, for an undisclosed sum. The operations generated a turnover of CHF750 million (£615m) in 2019 and employ 7,500 people. The sale is part of a strategic review of the forwarding and logistics company’s contract logistics business to improve profitability and focus on core business.

The air and sea forwarding activity is not affected and KN will retain a portion of its contract logistics work in the UK.