Kuehne+Nagel complete Apex acquisition

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Kuehne+Nagel has completed the acquisition of Apex International Corporation (“Apex”).

In 2020, Apex generated turnover of CHF 2.2 billion (£1.7 billion), gross profit of CHF 296 million (£231.6 million) and earnings before taxes of CHF 126 million (£98.6 million) and ranked seventh in terms of global air freight forwarding volume.

In the first quarter of 2021, Apex has continued to perform strongly with turnover of CHF 556 million (£435 million), gross profit of CHF 109 million (£85.3 million) and earnings before tax of CHF 64 million (£50 million).

Together, Kuehne+Nagel and Apex offer their customers a compelling value proposition in the competitive Asian logistics industry, especially in e-commerce fulfilment, hi-tech and e-mobility.

Dr. Joerg Wolle, chairman of Kuehne + Nagel International AG, said: “With the acquisition of Apex, Kuehne+Nagel complements its successful organic growth strategy and substantiates its strong position as one of the world’s largest logistics providers. With this transaction we are expanding the Group’s service offering, networks and potential for growth, in Asia and globally.”