Business, Forwarding, Freight News, Logistics

Kuehne+Nagel buys Asia’s Apex

[ February 24, 2021   //   ]

Kuehne+Nagel is to acquire Asian forwarder Apex International. The company was founded in China in 2001 and is especially active in the transpacific and intra-Asian markets. It has about 1,600 employees and a yearly turnover of over CHF 2.1 billion (£1.6m). In 2020, the company handled 750,000 tons  of airfreight and 190,000teu of sea freight.

KN’s board chairman Dr Joerg Wollesaid “Today we are one of the leading players and are further accelerating our growth and impact in this region. Asia Pacific has consistently proven to be one of the most important drivers of global trade. The acquisition of Apex is a further important cornerstone in our strategy and significant fulfilment of the Group’s Asia Pacific ambition.”

The acquisition is subject to customary closing conditions, including merger clearance by the competition authorities.

Kuehne+Nagel has also signed a strategic partnership with Jointown, China’s largest non-state-owned pharmaceutical distribution company. It gives the forwarder  access to Jointown’s fully GxP-compliant, in-country storage and distribution network and entry into the highly-regulated Chinese pharma & healthcare sector.