Kuehne+Nagel to acquire ReTrans

Global third-party logistics (3PL) services provider Kuehne+Nagel (KN) said this week it has entered into an agreement to acquire ReTrans Inc., a Memphis-based provider of multimodal transportation services.

Under the terms of the agreement, which is still subject to approval by U.S. regulatory authorities, KN will acquire 100 percent of ReTrans shares. The actual purchase price was not made publicly available.

ReTrans was established in 2002 and provides brokerage services for various modes, including full and less-than-truckload in the United States and Canada. It has more than 300 employees spread across 68 locations, with annual revenues above $500 million.

“The transaction with ReTrans underlines our strategy to grow organically and through complementary acquisitions,” said Dr. Detlef Trefzger, CEO of the Kuehne + Nagel Group, in a statement. “Our customers will benefit from comprehensive end-to-end supply chain solutions in North America. Combined with our strong seafreight, airfreight and contract logistics operations, this transaction will accelerate our growth.”