Kuehne + Nagel buys Canadian company Grifcold
Swiss forwarding group Kuehne + Nagel has acquired the Canadian company Grifcold Inc. as part of a plan to expand its reefer cargo and perishables international business.
The price of the takeover has not been disclosed.
Grifcold has specialized in the transport of temperature-sensitive cargo since 1984. With branch offices in Toronto and Montreal, the company handles around 4,000 TEUs a year by sea, mainly comprising shipments of fresh fish and meat, vegetables and fruits to and from Europe and Asia.
“Grifcold’s activities complement the service offering of the Canadian Kuehne + Nagel organization in reefer cargo and allow the expansion of its customer base,” the Swiss group said.
“For the time being, Grifcold Inc. will operate as a wholly owned subsidiary of Kuehne + Nagel International Ltd.” the acquiring company said in a statement.