Kuehne+Nagel buys Asian freight forwarder giant Apex
Acquisition is 3PL provider's largest one yet
Kuehne+Nagel, a third-party logistics (3PL) provider who is currently helping to distribute and store Moderna’s Covid-19 mRNA vaccine, has entered into a binding agreement to acquire Apex International Corporation, one of Asia’s leading freight forwarders, especially in the transpacific and intra-Asia.
The acquisition is the largest in Kuehne+Nagel’s history. The companies did not disclose specifics of the deal, but Apex will continue to operate separately within the Kuehne+Nagel Group.
With approximately 1,600 employees, Apex generates yearly turnover in excess of $2.3 billion (CHF 2.1 billion). In 2020, the company handled total air freight volume of approximately 750,000 tons and sea freight volume of 190,000 TEU (twenty-foot equivalent unit).
Is Compounding the Answer to the Semaglutide Shortage? Experts Weigh In
October 30th 2024In this Q&A, Scott Brunner, CEO, and Tenille Davis, Chief Advocacy Officer, of the Alliance for Pharmacy Compounding discuss the challenges faced by patients and healthcare providers due to drug shortages, particularly for semaglutide and other medications.
