Kuehne + Nagel has acquired time-critical shipments company Quick International Courier as part of its expansion in the high growth segments of aviation and pharma & healthcare logistics.
Quick is an industry specialist in providing tailor-made solutions to the aviation and pharma & healthcare industries, generating more than $200 million annual net revenue.
Both parties agreed not to disclose the purchase price. The acquisition is subject to customary closing conditions and to clearance by the competent merger control authorities.
Quick consists of Sterling Aviation, QuickSTAT, Quick Healthcare and Quick Logistics who will continue to operate as independent product brands.
Kuehne + Nagel International chief executive officer (CEO), Detlef Trefzger said: “Kuehne + Nagel’s M&A strategy is focused on expanding our footprint, creating synergies and acquiring know how. The acquisition of Quick is another accelerator to drive network growth and to enhance our global customer solutions portfolio.”
Founded in 1981 and headquartered in Jamaica, NY, Quick has about 550 employees specialised in ‘Next Flight Out’ and ‘Next Drive Out’ shipments among others.
These shipments are usually urgent in nature and often global, complex and logistics intense with a high cost of failure while operated with strictly defined protocols and control points from order to delivery. Quick deploys different key regional support centres and control towers all over the world.
Kuehne + Nagel board member responsible for air freight, Yngve Ruud said the acquisition is an “important milestone” in the implementation of a solutions strategy and a “confirmation of our leading position in airfreight”.
He added: “With its unique expertise in time-critical shipments in the fields of aviation and pharma & healthcare – both key strategic focus and investment areas for Kuehne + Nagel – the company perfectly complements our existing global portfolio.
“Our customers will benefit from a much greater scope of services and capability for time-critical shipments, while Quick’s customers will get access to Kuehne + Nagel’s global network across more than 100 countries.”
Quick International Courier CEO, Dominique Bischoff-Brown said joining forces “offers us new growth perspectives” within a worldwide operating network.