Kuehne + Nagel has successfully completed the acquisition of the perishables business of Panatlantic Logistics S.A., Ecuador. This acquisition will enable Kuehne + Nagel to strengthen its position in the export market to the United States, Europe and the Asia-Pacific region.
Ingo Goldhammer, Kuehne + Nagel, President South and Central American region and Raúl Aragundi, CEO and shareholder of Panatlantic Logistics S.A.
Panatlantic Logistics S.A. was founded in 1979 and is headquartered in Ecuador’s capital city, Quito. Operations are carried out in a temperature controlled warehouse at Quito airport. The combined volume of Kuehne + Nagel's current business portfolio and Panatlantic's will account for 32,000 tons air export perishables per annum out of Ecuador. Together with the perishables business managed in Colombia, Peru, Brazil and Chile, Kuehne + Nagel controls over 120,000 tons per annum of air export perishables in the South and Central America region.
“We are very proud to become part of the Kuehne + Nagel Group. By joining forces we will co-create an enormous potential of opportunities for our customers. Our strong and reliable market position in Ecuador will add and generate new and multiple chances for growing perspectives and services,” said Raúl Aragundi, CEO and shareholder of Panatlantic Logistics S.A.
“By acquiring this specialised player, Kuehne + Nagel consolidates its leading position in one of South America’s key perishables export markets, and, at the same time, considerably strengthens its position in the regional airfreight markets. Beyond combined volumes and generation of synergies with our existing operations, we will enhance the service and value add offering to our customers, using the experience of both companies,” said Ingo Goldhammer, Kuehne + Nagel, President South and Central American region.