Acquiring Morgan Cargo improves connectivity for customers to and from South Africa, the UK and Kenya, with the acquisition expected to be completed during the third quarter of 2023 and is subject to customary closing conditions.
In 2022, Morgan Cargo handled more than 40,000 tonnes of airfreight and more than 20,000 TEU of sea freight, managed by more than 450 logistics professionals.
Yngve Ruud, Member of the Management Board of Kuehne + Nagel responsible for Air Logistics, says, “With Morgan Cargo, we acquire a reliable logistics service provider for the benefit of our customers. Expansion in high-growth markets such as Africa clearly ties into our Roadmap 2026 and reinforces our commitment to the Middle East and Africa Region. We have been active in Africa for many years, but this acquisition is an ideal addition to our regional presence.”
Schalk Bruwer, CEO of Morgan Cargo, adds, “We wanted to expand our successful family-owned business and took the opportunity to become part of one of the world leaders in logistics. This new development will provide greater opportunities for our customers in terms of global reach and allow our team to advance their careers beyond the realm that was previously possible. Morgan Cargo is extremely excited to become part of Kuehne + Nagel.”