Kuehne + Nagel has completed the acquisition of Panatlantic Logistics S.A., a logistics company based in Ecuador specializing in the transportation of perishable products by air.

According to Kuehne + Nagel, the acquisition will enable it to strengthen its position in the export market to the United States, Europe and the Asia-Pacific region.

“Perishables logistics is a strong growth driver for Kuehne + Nagel,” said Yngve Ruud, member of the managing board at Kuehne + Nagel International AG responsible for air freight. “After the integration of two market leaders in 2017 the acquisition of the perishables business of Panatlantic Logistics S.A. marks another important step in our global strategy. Our KN FreshChain offers scalable solutions and highest standards for transportation of temperature-sensitive perishable products. With Panatlantic Logistics on board we further strengthen and expand our fresh chain network – the largest in the logistics industry for perishables – connecting key production countries to major markets.”

Panatlantic Logistics was founded in 1979 and is headquartered in the capital city, Quito. The company operates a temperature-controlled warehouse at Quito International Airport.

“We are very proud to become part of the Kuehne + Nagel Group,” said Raúl Aragundi, CEO and shareholder of Panatlantic Logistics S.A. “By joining forces we will co-create an enormous potential of opportunities for our customers. Our strong and reliable market position in Ecuador will add and generate new and multiple chances for growing perspectives and services.”

The combined volume of Kuehne + Nagel’s and Panatlantic’s current business portfolios will account for 32,000 tonnes of perishables exported by air out of Ecuador per year. Together with the perishables businesses managed in Colombia, Peru, Brazil and Chile, Kuehne + Nagel controls over 120,000 tonnes of air exports of perishables in South and Central America.

“By acquiring this specialized player, Kuehne + Nagel consolidates its leading position in one of South America’s key perishables export markets, and, at the same time, considerably strengthens its position in the regional air freight markets,” said Ingo Goldhammer, president of the South and Central American region at Kuehne + Nagel. “Beyond combined volumes and generation of synergies with our existing operations, we will enhance the service and value add offering to our customers, using the experience of both companies.”