From Quito with flowers: K+N acquires Ecuador perishables biz

Kuehne + Nagel
(l-r) Yngve Ruud, member of the Managing Board of Kuehne + Nagel International AG, responsible for Airfreight; and Raúl Aragundi, CEO and shareholder of Panatlantic Logistics S.A.

Kuehne + Nagel (K+N) has successfully completed the acquisition of the perishables business of Panatlantic Logistics S.A., Ecuador, one of the market leaders in the country in airfreight transport of perishable products.

The global forwarder said the acquisition will enable K+N to strengthen its position in the export market to the United States, Europe and the Asia-Pacific region. The acquisition also follows close on the heels of K+N’s new 17,600 sqm pharmaceutical logistics hub in Santiago, Chile due to open this month.

The combined volume of K+N’s current business portfolio and Panatlantic’s will account for 32,000 tonnes air export perishables per annum out of Ecuador. Together with the perishables business managed in Colombia, Peru, Brazil and Chile, Kuehne + Nagel controls over 120,000 tonnes per annum of air export perishables in the South and Central America region.

The combined volume of K+N’s current business portfolio and Panatlantic’s will account for 32,000 tonnes air export perishables per annum out of Ecuador. Together with the perishables business managed in Colombia, Peru, Brazil and Chile, Kuehne + Nagel controls over 120,000 tonnes per annum of air export perishables in the South and Central America region.

“Perishables Logistics is a strong growth driver for Kuehne + Nagel,” said Yngve Ruud, member of the Managing Board of Kuehne + Nagel International AG, responsible for Airfreight. “After the integration of two market leaders in 2017 the acquisition of the perishables business of Panatlantic Logistics S.A. marks another important step in our global strategy.

“Our KN FreshChain offers scalable solutions and highest standards for transportation of temperature sensitive perishable products. With Panatlantics Logistics onboard we further strengthen and expand our fresh chain network – the largest in the logistics industry for perishables – connecting key production countries to major markets.”

Panatlantic Logistics S.A. was founded in 1979 and is headquartered in Ecuador’s capital city, Quito with its operations carried out in a temperature controlled warehouse at Quito’s Mariscal Sucre International Airport (UIO).

“We are very proud to become part of the Kuehne + Nagel Group,” said Raúl Aragundi, CEO and shareholder of Panatlantic Logistics. “By joining forces we will co-create an enormous potential of opportunities for our customers. Our strong and reliable market position in Ecuador will add and generate new and multiple chances for growing perspectives and services,” he said.

Ingo Goldhammer, Kuehne + Nagel, president South and Central American region, added: “By acquiring this specialised player, Kuehne + Nagel consolidates its leading position in one of South America’s key perishables export markets, and at the same time, considerably strengthens its position in the regional airfreight markets.

“Beyond combined volumes and generation of synergies with our existing operations, we will enhance the service and value add offering to our customers, using the experience of both companies.”

 

Summary
From Quito with flowers: Kuehne + Nagel acquires Ecuador perishables biz
Article Name
From Quito with flowers: Kuehne + Nagel acquires Ecuador perishables biz
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Kuehne + Nagel announced that it has successfully completed the acquisition of the perishables business of Panatlantic Logistics S.A., Ecuador, one of the market leaders in the country in airfreight transport of perishable products.
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AsiaCargoBuzz.com
AsiaCargoBuzz.com
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