Kuehne + Nagel buys control of New Zealand reefer operator

KUEHNE + Nagel has signed an agreement to buy 75 per cent of New Zealand-based reefer operator which provides door-to-door service for perishables on trans-Tasman Sea routes to the South Pacific Islands.


"New Zealand is of key importance for perishables exports to Australiaand the South Pacific Islands," said Peter Ulber, Kuehne + Nagel International executive. "Cooltainer's activities ideally complement our operations in Australia and New Zealand and will give us the opportunity to generate synergies."


Cooltainer CEO and shareholder Stuart Grant said the partnership offered exciting opportunities from a global company such as Kuehne + Nagel, he added, "demand for New Zealand and Australian food products will continue to be strong and the performance of the cool chain service providers is crucial in ensuring exporters achieve maximum return."
(Source:http://www.schednet.com)