Kuehne + Nagel described Quick as an industry specialist in providing tailor-made solutions to the aviation and pharma and healthcare industries, generating more than $200 million in annual net revenue.
Quick consists of Sterling Aviation, QuickSTAT, Quick Healthcare and Quick Logistics, which will continue to operate as independent product brands.
“Kuehne + Nagel’s M&A strategy is focused on expanding our footprint, creating synergies and acquiring know-how. The acquisition of Quick is another accelerator to drive network growth and to enhance our global customer solutions portfolio,” said Detlef Trefzger, CEO of Kuehne + Nagel International AG.
Yngve Ruud, a member of the Kuehne + Nagel managing board responsible for airfreight, said, “This acquisition is an important milestone in the implementation of our solutions strategy and a confirmation of our leading position in airfreight. With its unique expertise in time-critical shipments in the fields of aviation and pharma and healthcare — both key strategic focus and investment areas for Kuehne + Nagel — the company perfectly complements our existing global portfolio.”
Both parties agreed not to disclose the purchase price. The acquisition is subject to customary closing conditions and to clearance by the competent merger control authorities.