Kuehne+Nagel acquires 51% majority stake in IMC Logistics
The transaction is expected to be completed at the beginning of the first quarter of 2025.
Kuehne+Nagel has acquired a 51% majority stake in IMC Logistics (IMC), a prominent US-based provider of marine drayage services. Announced jointly by the two companies, this acquisition positions Kuehne+Nagel to strengthen its access to North America's vital logistics networks. IMC, a privately held company, offers end-to-end transportation solutions that connect seaports, rail hubs, customer facilities, and inland destinations across the US. With this investment, Kuehne+Nagel enhances its access to one of the most important logistics networks in North America and ensures flexible transportation solutions in times of increasing supply chain disruptions. The IMC brand will be retained, according to an official release from Kuehne+Nagel.
Headquartered in Collierville, Tennessee, IMC has over 40 years of expertise in intermodal solutions for sea logistics across the US. Kuehne+Nagel and IMC share a long-standing partnership. With a national network of 49 locations, IMC has a strategic footprint at key US seaports and rail hubs, handling 2 million TEUs annually through its drayage and rail operations. Supported by approximately 1,700 employees and a broad network of independent contractors, IMC reported around USD 800 million in revenue for 2023, mentions the official release.
"The Kuehne+Nagel strategy is based on organic growth supported by targeted bolt-on acquisitions. Asia and North America are the key growth markets for our business, where we have established a leading position which we systematically expand. With IMC in the US as with the acquisition of Apex in Asia, we do rely on long term partnerships. This reduces the acquisition risk, ensures quick success by deepening an already rewarding cooperation. Acquiring a majority stake in IMC represents another important strategic step. We are further expanding our leading position in North America for the benefit of our customers and closer cooperation with our partners, particularly the carriers,” says Joerg Wolle, Chairman of the Board of Directors, Kuehne+Nagel International.
Stefan Paul, CEO, Kuehne+Nagel International says: "International Sea Logistics is a highly complex business with many interfaces and stakeholders, in which US trade flows are of central importance. IMC's range of capabilities significantly expands our service offering and allows us to develop even more attractive solutions for the value chains of our sea freight customers."
The transaction is expected to be completed at the beginning of the first quarter of 2025. Both parties have agreed not to disclose further details of the transaction at this time. The deal is subject to approval from regulatory authorities and customary closing conditions, the release added.
“We embrace the opportunity to partner with Kuehne+Nagel, one of the world’s leading logistics companies, to elevate our family-founded business to new heights and to grow together. Combining our landside container logistics expertise and offering with Kuehne+Nagel’s global reach will deliver exceptional services for our customers and create new career growth opportunities for our colleagues,” says Mark H. George, Chairman and Founder, IMC Logistics.
