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IMC LOGISTICS AND KUEHNE+NAGEL ENTER INTO STRATEGIC PARTNERSHIP

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Nov 14, 2024, 12:45 AM ET

COLLIERVILLE, Tenn., Nov. 14, 2024 /PRNewswire/ -- IMC Logistics, the largest marine drayage provider in the nation, has announced a strategic partnership with one of its longtime customers, Kuehne+Nagel, who will acquire 51% of the company. This strategic partnership will directly address growing demand for end-to-end transportation of cargo to or from seaports or rail hubs, customer facilities and inland in the United States, where landside container logistics are complex.

Once the transaction is completed, IMC Logistics will continue to operate as it has been previously, but with greater resources to serve clients. Mark H. George will continue as Chairman with the same leadership team in place.

"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. 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.

Stefan Paul, CEO of Kuehne+Nagel International AG says: "International Sea Logistics is a highly complex business with many interfaces and stakeholders, in which US trade flows are of central importance. 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. The deal is subject to approval from regulatory authorities and customary closing conditions.

BofA Securities served as financial advisor and Baker Donelson served as legal advisor to IMC Logistics.

About Kuehne+Nagel
With over 80,000 employees at almost 1,300 sites in close to 100 countries, the Kuehne+Nagel Group is one of the world's leading logistics providers. Headquartered in Switzerland, Kuehne+Nagel is listed in the Swiss blue-chip stock market index, the SMI. The Group is the global number one in air and sea logistics and has strong market positions in road and contract logistics.

Kuehne+Nagel is the logistics partner of choice for 400,000 customers worldwide. Using its global network, logistics expertise and data-based insights, the Group provides end-to-end supply chain solutions for global companies and industries. As a member of the Science Based Target Initiative (SBTi), Kuehne+Nagel is committed to sustainable logistics by reducing its own environmental footprint and by supporting its customers with low-carbon logistics solutions. To learn more, visit https://us.kuehne-nagel.com/en/.

About IMC:
IMC Logistics is the largest marine drayage company in the United States. Equipped with the largest fleet of trucks and chassis, an integrated network of secure depots, and transloading facilities, IMC moves cargo to and from all major rails and ports in the nation. For 42 years, IMC has focused on delivering innovative solutions to its valued clients. To learn more, visit www.imcc.com.