M&A Summary

Kuehne + Nagel acquires Canada’s Perishables International Transportation

Kuehne + Nagel announced that it has acquired Perishables International Transportation of Vancouver, Canada. The company stated that the acquisition is another step in implementing its strategy to expand its activities in the field of perishables logistics globally.
Established in 1991, Perishables International Transportation (PIT) is an independent freight forwarder, specializing in handling and transportation of fresh and frozen perishable goods. Its location in the cargo area of Vancouver International Airport provides access to all major airlines allowing for later cutoffs and shorter transit times for products such as fruits, vegetables and seafood.
“Following the general expansion of our perishables logistics business in Australia, Europe and South America, the acquisition of Perishables International Transportation allows us to grow these activities in North America,” said Tim Scharwath, Executive Vice President Air Logistics, Kuehne + Nagel International AG. “The timing of this transaction ahead of the peak season is ideal and will also strengthen our position in the Canadian airfreight market.”

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