Kuehne+Nagel acquires Candian customs broker Farrow | CSCMP's ...

Swiss freight forwarder Kuehne+Nagel has acquired Canada-based customs broker Farrow to expand its offering in North America. Farrow has 830 employees in 41 locations and expertise in international trade, customs solutions, and logistics. The terms of the deal were not disclosed. Kuehne+Nagel says the acquisition will accelerate its growth ambitions in the customs market and complement its cross-border capabilities. According to Hansjörg Rodi, Member of the Management Board at Kuehne+Nagel, the acquisition of Farrow is a strategic fit and expands their value-added solutions.

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Frequently Asked Questions (FAQs)

1. What is the recent development regarding Kuehne+Nagel and Farrow?

Kuehne+Nagel has announced its plans to acquire Farrow, a well-established Canada-based customs broker. Upon close of this deal, Farrow will become a fully owned subsidiary of Kuehne+Nagel.
(Source: Newsroom Kuehne+Nagel)

2. When is the acquisition of Farrow by Kuehne+Nagel expected to be completed?

The acquisition is targeted for Q1 2024, subject to regulatory approvals.
(Source: LinkedIn Company Page for Kuehne+Nagel)

3. How will the acquisition of Farrow benefit Kuehne+Nagel?

The acquisition is expected to greatly accelerate Kuehne+Nagel's growth and expansion in custom brokerage services, thereby enhancing the company's service offerings in US and Canadian customs.
(Source: Farrow Official Website)

4. Will Farrow continue to operate under its own name after the acquisition?

The exact details regarding the brand name use post-acquisition are not clear from the search results. However, Farrow is set to become a fully owned subsidiary of Kuehne+Nagel which could imply a potential rebranding or integration under the Kuehne+Nagel name.
(Source: Newsroom Kuehne+Nagel)

5. What is Kuehne+Nagel’s current position in the global freight forwarding market?

Kuehne+Nagel is one of the top global freight forwarders, highlighted by its significant volume of freight managed and revenues.
(Source: A&A's Top 25 Global Freight Forwarders List)

For further official information, the sources referred to in the FAQs can be visited where announcements and updates about the acquisition may be provided.