Kuehne + Nagel (K+N) has announced its intention to acquire RH Freight for an undisclosed fee, in a move that will create a UK operation employing some 7,661 employees with a fleet of 1,675 vehicles and 2,500 trailers.
The deal, which sees K+N enter into an agreement to acquire the shares of Rennies Investment Ltd, the parent company of RH Freight, is still subject to approval by anti-trust authorities.
In the UK the combined businesses will have a turnover of approximately £946m (based on 2009 turnover), with a merged pre-tax profit of £18.3m.
The deal will see K+N vying for the number three spot in the Motor Transport Top 100 operators rankings, which recently saw Norbert Dentressangle assume third place following its acquisition of TDG (giving it a combined turnover of £956.9m and a fleet of 2,200 vehicles and 3,150 trailers).
Nottingham-based RH Freight runs groupage freight services between continental Europe and the UK, employing 630 staff across 17 UK locations and two sites in Finland.
It handles some 425,000 shipments per year, running to 32 European destinations daily, and manages 30,000m2 of warehousing space.
"Due to its customer orientation, expertise and concentration on daily lines to European destinations, RH Freight fits ideally K+N's strategy to expand its European overland network and to offer its customers high-quality overland products," says Dirk Reich, K+N executive vice-president.
He adds that the acquisition is "an important step for further improving K+N's position as an integrated logistics provider in the UK".
Ian Baxter, MD of the RH Group, says: "Combining strengths and international capabilities with K+N will be of great advantage to our customers and generate a win-win situation for both companies and their employees."
