Kuehne & Nagel to acquire ACR Logistics
Oct 18, 2005 9:16 AM, from staff and wire reports
Sea freight forwarder Kuehne & Nagel International AG has agreed to acquire ACR Logistics from Platinum Equity Group for 490 million euros (US $593 million).
This acquisition ranks as the largest in Kuehne & Nagelís history. Switzerland-based Kuehne & Nagel will spend 440 million euros to obtain Paris, France-based ACRís share capital and will assume a debt of 50 million euros.
Formerly Hays Logistics, ACR should help Kuehne & Nagel expand its contract logistics operations in France and the United Kingdom.
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