Kuehne+Nagel enters into a binding agreement to acquire Apex International Corporation (“Apex”), one of Asia’s leading freight forwarders, especially in the transpacific and intra-Asia.
With approximately 1,600 employees, Apex generates yearly turnover in excess of CHF 2.1 billion. In 2020, the company handled total air freight volume of approximately 750,000 tons and sea freight volume of 190,000 TEU.
Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG, says: “The combination of Apex and Kuehne+Nagel provides us with an opportunity to offer our customers a compelling proposition in the competitive Asian logistics industry, especially in e-commerce fulfilment, hi-tech and e-mobility. We are looking forward to welcoming the Apex colleagues to the Kuehne+Nagel family.”
Tony Song, Chairman of the Board of Directors and CEO of Apex, adds: “With Kuehne+Nagel, we have found a strategic shareholder and logistics group with more than 130 years of heritage. We are sure that with this transaction, we will be able to add value for our customers’ supply chains and expand our global logistics network. We will complement Kuehne+Nagel’s existing global Air Logistics team while offering our management and key talents unique career opportunities.”
Dr. Joerg Wolle, Chairman of the Board of Directors Kuehne + Nagel International AG, comments: “In the past years, Kuehne+Nagel strategically and with great efforts expanded and developed its business in Asia Pacific. Today we are one of the leading players and are further accelerating our growth and impact in this region. Asia Pacific has consistently proven to be one of the most important drivers of global trade. The acquisition of Apex is a further important cornerstone in our strategy and significant fulfilment of the Group’s Asia Pacific ambition.”