Swiss logistics group Kühne+Nagel has closed the sale of a large part of its British portfolio of logistics contracts to XPO Logistics. This is stated in a statement dated January 4. According to the company, this means that the global restructuring of the contract logistics division has been completed. The sale in the United Kingdom follows the disposal of contract logistics activities in Argentina, France (refrigerated logistics) and part of the real estate portfolio.

According to Kuehne+Nagel, the transaction in Great Britain will be completed following unconditional approval from the British Competition and Markets Authority. The sale includes the Drinks Logistics, Food Services and Retail & Technology business areas.

Dr. Jörg Wolle, Chairman of the Board of Management of Kühne + Nagel International AG, says:

“At the beginning of 2019, we initiated the strategic review of our contract logistics activities at the Board of Directors and reported accordingly to our business partners and the public. “The comprehensive and focused restructuring process was successfully completed with the sale of parts of our contract logistics business in Great Britain.”