Schindellegi / CH, March 01, 2011 – In line with its growth strategy and the objective to significantly expand its European overland network, Kuehne + Nagel has entered into an agreement to acquire the shares of Rennies Investment Limited (RH Freight), United Kingdom.
RH Freight, headquartered in Nottingham, has been established for 40 years and is the market leader for groupage freight between continental Europe and the UK. The company employs 630 staff across 17 locations in the United Kingdom and at two sites in Finland. Via its hubs in Nottingham and South East London, RH Freight handles 425,000 shipments per year and operates to 32 European destinations daily. Besides its core activities, RH Freight is also active in sea- and airfreight as well as contract logistics, with 30,000 sqm of handling space under management.
“Due to its customer orientation, expertise and concentration on daily lines to European destinations, RH Freight fits ideally Kuehne + Nagel’s strategy to expand its European overland network and to offer its customers high quality overland products,” said Dirk Reich, Executive Vice President, Kuehne + Nagel International AG responsible for Road & Rail Logistics. “In addition, this acquisition is an important step for further improving Kuehne + Nagel’s position as an integrated logistics provider in the UK.”
“Over the last few years, we have considerably expanded our service offering and gained competitive advantage due to our strong European operations,” said Ian Baxter, Managing Director of the RH Group. “To be even more successful in the future, we need to offer customers a truly global one-stop solution. Combining strengths and international capabilities with Kuehne + Nagel will be of great advantage to our customers and generate a win-win situation for both companies and their employees.”
The transaction is subject to the approval of relevant anti-trust authorities.