The Kuehne + Nagel Group has entered into an agreement to acquire French groupage provider Alloin, in what the company calls “one of the most important milestones in becoming a leading European overland transport company”.
Xavier Urbain, management board member of K+N International AG, responsible for the Road & Rail Logistics unit, said: “In the scope of our pan-European business development, the expansion of our road logistics activities in France is of the highest importance.
“By acquiring the Alloin Group we obtain a foothold and a strong position in this important economic area. The integration of Alloin’s network into our existing structures will enhance the capability to provide standardised logistics services and processes throughout Europe.”
Alloin is based near Lyon, with an annual turnover of around 300 million euros (£232 million) and 3,000 employees. It operates 53 cross-docking terminals across the country and handles some 20,000 shipments per day.
Jean-Louis Alloin will remain as president of the Alloin Group.
The transaction is subject to the approval of EU authorities.
* Elsewhere, K+N has also released its nine month results. EBITDA improved by 7.8 per cent, with an adjusted increase of 12.2 per cent, to 771 million Swiss francs (£390 million).
The Contract Logistics business was negatively affected by the weakening economy, particularly in the UK and US, however the company said this was compensated by new business wins. EBITDA was four per cent higher than the previous year and the EBITDA margin was stable at 5.1 per cent.
The gross profit margin increased from 18.1 to 20.4 per cent within the Road and Rail Logistics division; but the operational result was lower than in the previous year’s period owing to investment in network build-up and IT systems.