Kuehne+Nagel acquires 100% of the shares in Salmosped AS
Kuehne+Nagel has entered into a binding agreement to acquire 100% of the shares in Salmosped AS.
The Oslo-based company is a Norwegian perishables freight forwarder specializing in transportation of seafood products. It generated turnover of CHF 118 million (£93 million) in 2020 and handled approximately 63,000 tons of goods.
Today, Norway is one of the largest fishery and aquaculture producers in the world. Despite the pandemic, Norway’s fish exports remained strong, with attractive prospects for fisheries and marine aquaculture growth in light of its 21,000 km long coastline.
Dennis Verkooy, senior vice president global perishables & head of carrier management air logistics at Kuehne+Nagel Management AG, says, “Perishables logistics is a strong growth driver for Kuehne+Nagel. While we have been present in the seafood business in Norway for years, today’s acquisition strengthens our footprint in air freight exports from this important seafood producing country. We are looking forward to enlarging our Norwegian team with Salmosped’s specialists.”
The transaction is subject to customary closing conditions, including clearance by the competent merger control authorities.