Kuehne+Nagel signed an agreement to acquire South African, UK and Kenyan freight forwarder Morgan Cargo which specialises in the transport and handling of perishable goods.

In the announcement, Kuehne+Nagel noted that last year, Morgan Cargo handled more than 40,000 tonnes of air freight and more than 20,000 TEU of sea freight globally, managed by approximately 450 logistics experts.

Boost to perishables logistics

"The acquisition of Morgan Cargo ideally complements Kuehne+Nagel's perishables logistics service offering while improving connectivity for customers to and from South Africa, the UK and Kenya, which includes state-of-the-art cold chain facilities," Kuehne+Nagel said.

Yngve Ruud, a member of the management board of Kuehne+Nagel, responsible for Air Logistics, noted the reliability of Morgan Cargo.

"Expansion in high-growth markets such as Africa clearly ties into our Roadmap 2026 and reinforces our commitment to the Middle East and Africa Region. We have been active in Africa for many years, but this acquisition is an ideal addition to our regional presence," Ruud said.

Schalk Bruwer, CEO of Morgan Cargo, for his part, noted that the acquisition positions the company for international growth.

"We wanted to expand our successful family-owned business and took the opportunity to become part of one of the world leaders in logistics," he said.

"This new development will provide greater opportunities for our customers in terms of global reach and allow our team to advance their careers beyond the realm that was previously possible. Morgan Cargo is extremely excited to become part of Kuehne+Nagel," Bruwer added.

Kuehne+Nagel said the closing of the transaction is expected during the third quarter of 2023 and is subject to customary closing conditions, including clearance by the competent merger control authorities.