K+N and XPO close warehouse deals in UK
XPO Logistics is now the owner of the major part of Kuehne+Nagel's (K+N) UK contract logistics portfolio. Kuehne+Nagel has thus completed the restructuring of this business unit.
This transaction, which is a major reset after K+N's acquisition of RH Freight in UK in 2011, follows the sale of K+N's contract logistics activities in Argentina, the chilled FMCG portfolio in France as well as a portfolio of real estate assets.
The UK transaction closes after the approval by the British competition and market authority. The scope includes the drinks logistics, food services and retail & technology businesses. Joerg Wolle, chairman of Kuehne + Nagel International AG, said on the occasion that the plan for this restructuring started in early 2019.” (sh)