Kuehne + Nagel has entered a definitive agreement to sell a major part of its UK contract logistics portfolio to XPO Logistics. This will include drinks logistics, food services and retail & technology businesses. These operations generated a turnover of around £806 million in 2019.
Dr Detlef Trefzger, CEO of Kuehne + Nagel International AG, comments: “One year ago, we first announced the strategic review of our contract logistics business to improve profitability and focus on our core, scalable solutions. We have now reached a major milestone in this effort, having secured an agreement to sell significant non-core assets in the UK. With XPO Logistics, we are pleased to have found a good new home for our customers and employees.”