Kuehne + Nagel has announced the acquisition of Quick International Courier, specialisng in time-critical transportation and logistics solutions globally
Quick specialises in providing tailor-made solutions to the aviation and pharma & healthcare industries, generating more than US$200M annual net revenue. Quick consists of Sterling Aviation, QuickSTAT, Quick Healthcare and Quick Logistics, which will continue to operate as separate product brands.
“Kuehne + Nagel’s M&A strategy is focused on expanding our footprint, creating synergies and acquiring know how," said Dr Detlef Trefzger, CEO of Kuehne + Nagel International AG. "The acquisition of Quick is another accelerator to drive network growth and to enhance our global customer solutions portfolio.”
Yngve Ruud, Member of the Managing Board of Kuehne + Nagel, responsible for airfreight, said: “This acquisition is an important milestone in the implementation of our solutions strategy and a confirmation of our leading position in airfreight.
"With its expertise in time-critical shipments in the fields of aviation and pharma & healthcare – both key strategic focus and investment areas for Kuehne + Nagel – the company perfectly complements our existing global portfolio. Our customers will benefit from a much greater scope of services and capability for time-critical shipments, while Quick’s customers will get access to Kuehne + Nagel’s global network across more than 100 countries."
Headquartered in Jamaica, NY, USA, Quick has around 550 employees specialised in “Next Flight Out” and “Next Drive Out” shipments, among others. These shipments are usually urgent in nature and often global, complex and "logistics-intense" with a high cost of failure, while operated with strictly defined protocols and control points from order to delivery. Quick deploys different key regional support centres and control towers all over the world.
“We are looking forward to become part of the Kuehne + Nagel Group. Joining forces with one of the leading logistics providers offers us new growth perspectives within a worldwide operating network,” said Dominique Bischoff-Brown, Quick’s CEO.
The purchase price has not been disclosed. The acquisition is subject to customary closing conditions and to clearance by the competent merger control authorities.