Kuehne+Nagel has announced the acquisition of a 51% stake in IMC Logistics (IMC), a leading marine drayage provider in the United States. The strategic investment aims to enhance Kuehne+Nagel’s access to North America’s critical logistics networks and provide flexible transportation solutions amid growing supply chain challenges. IMC, a privately held company, will retain its brand following the acquisition.
Based in Collierville, Tennessee, IMC boasts over 40 years of expertise in intermodal transportation for Sea Logistics in the U.S. The company operates a national network of 49 locations, strategically positioned at major seaports and rail hubs. IMC handles approximately 2 million TEUs annually, generating revenues of $800 million in 2023. Its workforce includes 1,700 employees and a robust network of independent contractors.
Dr. Joerg Wolle, Chairman of Kuehne+Nagel International AG, emphasized the importance of the acquisition as part of the company’s strategy of targeted growth in key markets. “Asia and North America are our primary growth areas. This acquisition strengthens our position in North America, ensuring immediate success through a longstanding partnership with IMC,” he stated.
Kuehne+Nagel CEO Stefan Paul highlighted IMC’s value in complementing the company’s Sea Logistics capabilities. “IMC’s expertise allows us to develop more robust solutions for our sea freight customers’ value chains,” Paul said.
Mark H. George, Chairman and Founder of IMC Logistics, expressed enthusiasm about the partnership. “Collaborating with Kuehne+Nagel will elevate our family-founded business, expand our services, and create new career opportunities for our team,” George remarked.
The transaction is slated for completion in early Q1 2025. Financial details of the deal remain undisclosed.