Kuehne + Nagel makes pharma acquisitions

0
215
Kuehne + Nagel headquarters in Schindellegi, Switzerland

Kuehne + Nagel (K+N) has acquired two specialised pharma logistics companies as it continues its drive to focus on providing GxP compliant end-to-end solutions to pharma and healthcare customers.

In Turkey K+N has entered into an agreement to acquire Zet Farma, which manages 56,000 square metres at four pharma grade warehouses in the metropolitan area of Istanbul. This transaction marks K+N’s entry in the fast growing Turkish pharma logistics market.

In Italy, Rome and Milan are key production areas for the high-end pharmaceutical industry. Here, K+N has expanded its service scope by the acquisition of Ferlito Pharma Logistics. The company is a major player in pharma logistics, offering GxP compliant warehousing and forwarding services including local distribution.

K+N International member of the management board responsible for contract logistics, Gianfranco Sgro says: “The pharma logistics market is expected to significantly grow due to global demographic changes and increased consumer spending.

“It is one of the markets Kuehne + Nagel differentiates itself by operational excellence, global footprint and dedicated logistics infrastructure.”

The forwarder says the two acquisitions underline both its strategy to continuously grow in future proof industries and its focus on specialised, niche acquisitions.

The transaction in Turkey is subject to the approval by the relevant Turkish regulatory authorities and both transactions are subject to customary closing conditions. All parties agreed to not disclose the purchase price.