Swiss logistics multinational, Kuehne+Nagel, has announced its acquisition of Morgan Cargo, a perishables freight forwarder operating in South Africa, Kenya and the United Kingdom.
Last year Morgan Cargo handled over 40 000 tonnes of air freight and more than 20 000 TEUs of sea freight globally.
Their operations were supported by a team of approximately 450 logistics experts.
K+N said the acquisition would complement its existing service offering in the perishables market.
It is expected to also improve connectivity for clients in the mentioned root countries.
Yngve Ruud, K+N executive vice-president responsible for air logistics, emphasised that expanding into high-growth markets like Africa aligns with their Roadmap 2026.
It also demonstrates their commitment to the Middle East and Africa region.
The acquisition is expected to be finalised in the third quarter of 2023, pending approval from relevant merger control authorities and meeting standard closing conditions, Container News reports.
Schalk Bruwer, CEO of Morgan Cargo, expressed optimism about the development, highlighting the increased global reach it will provide to its customers and the career advancement opportunities for the forwarder’s team.