Kuehne+Nagel, a leading global logistics provider, has announced its acquisition of Farrow, a prominent Canada-based customs broker. The acquisition will enhance Kuehne+Nagel's customs clearance services, supporting the growing demand in complex international trade regulations. Farrow, with its longstanding reputation and extensive expertise, will become a fully owned subsidiary of Kuehne+Nagel. The transaction is expected to be completed in Q1 2024, subject to regulatory approval. This acquisition is a strategic fit, aligning with Kuehne+Nagel's growth ambitions in the customs market.
Frequently Asked Questions about Kuehne+Nagel's Acquisition of Farrow
1. Who is Kuehne+Nagel?
Kuehne+Nagel is a Swiss-based global transport and logistics company, known to be one of the world's leading freight forwarders.
2. What company did Kuehne+Nagel recently acquire?
Kuehne+Nagel has recently acquired Farrow, a Canada-based customs broker.
3. What is Farrow known for?
Farrow is known as one of the largest private and family-owned customs brokerage and trade consulting firms.
4. When did the acquisition of Farrow by Kuehne+Nagel take place?
The acquisition was announced on November 28, 2023.
5. Why did Kuehne+Nagel acquire Farrow?
The acquisition aims to expand Kuehne+Nagel's services and presence in North America, particularly by enhancing its customs brokerage offerings.
6. What is the significance of this acquisition for Kuehne+Nagel?
The acquisition of Farrow represents a strategic step for Kuehne+Nagel to reinforce its position and service capabilities in North America's logistics and customs brokerage markets.
7. Where is Farrow based?
Farrow is based in Windsor, Ontario, Canada.
8. Will Farrow continue to operate under its name?
The information regarding whether Farrow will continue to operate under its name or be completely integrated into Kuehne+Nagel's brand has not been specified in the provided information.
9. What services does Kuehne+Nagel provide?
Kuehne+Nagel provides a wide range of services including airfreight, seafreight, road and rail logistics, contract logistics, and supply chain management.