Kuehne + Nagel bought Brazilian trucking and logistics firm Grupo Eichenberg for $52 million, making it the Swiss forwarding and logistics company’s fourth acquisition in the fast-growing Latin American transport market this year.
Family-owned Grupo Eichenberg, a door-to-door logistics operator headquartered in Porto Alegre, employs 700 at 14 locations across Brazil.
“This acquisition is in line with our global growth strategy and ideally fits our objective to significantly expand our activities, particularly in Brazil, one of the world’s key growth markets,” said Karl Gernandt, chairman of Kuehne+Nagel International.
Grupo Eichenberg operates trucking services across Brazil and runs daily services to and from Argentina, Chile and Uruguay. It also has a domestic air freight forwarding business.
In January, Kuehne+Nagel, the largest internatioanl forwarder, acquired two Colombian and one Ecuadorian air freight forwarder that handle around 75,000 tons of freight annually, mainly perishable foods and flowers.
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