Kuehne+Nagel has acquired a significant stake in Collierville, Tennessee-based IMC Logistics (CCJ Top 250, No. 53), the largest marine drayage provider in the country. Headquartered in Switzerland-based, Kuehne+Nagel – a longtime customer of IMC Logistics – will own 51% of the company.
Terms of the deal, which is expected to close early next year, were not disclosed.
Kuehne+Nagel is the top air and sea logistics provider in the world and has strong market positions in road and contract logistics, while IMC moves cargo to and from all major rails and ports in the U.S. Earlier this year, IMC Logistics acquired American Pacific Transportation, a California-based drayage company, significantly increasing IMC's position and truck capacity in California and across the West Coast.
"We embrace the opportunity to partner with Kuehne+Nagel, one of the world's leading logistics companies, to elevate our family-founded business to new heights and to grow together," said Mark H. George, who will continue as IMC Chairman. "Combining our landside container logistics expertise and offering with Kuehne+Nagel's global reach will deliver exceptional services for our customers and create new career growth opportunities for our colleagues" says George.
When finalized, IMC Logistics will continue to operate as its own company with the same leadership team in place.
"International Sea Logistics is a highly complex business with many interfaces and stakeholders, in which U.S. trade flows are of central importance," said Stefan Paul, CEO of Kuehne+Nagel International AG. "IMC's range of capabilities significantly expands our service offering and allows us to develop and offer even more attractive solutions for the value chains of our ocean freight customers."
Completion of the transaction is expected at the beginning of the first quarter of 2025.
