Kühne+Nagel acquires Canadian customs broker Farrow

29 November 2023 09:11

Greater Zurich

Supporting partner

Schindellegi/Windsor - The logistics provider Kühne +Nagel from the canton of Schwyz is strengthening its service offering on the northern and southern borders of the USA through the acquisition of Farrow. The Canadian customs clearance service provider employs 830 people at 41 locations in Canada and the USA.

Kühne+Nagel is expanding its customs brokerage offering in North America. If the acquisition of the customs broker Farrow from Windsor in the Canadian province of Ontario is completed as planned in the first quarter of 2024, the logistics company will have an additional 41 locations in Canada and the USA for customs clearance between the USA and the Canadian border in the north and the Mexican border in the south. According to a statement, Farrow's 830 employees managed over 1.5 million customs entries in 2022.

“With Farrow, we acquire a leading, diversified customs brokerage and logistics company that brings with it a proven track record of success, a growth-oriented mindset, and significant business scalability,” commented Hansjörg Rodi in the statement. As the Member of the Management Board and Responsible for Road Logistics explains, “the acquisition of Farrow greatly accelerates Kuehne+Nagel’s growth ambitions in the customs market and is a compelling, strategic fit”.

According to the statement, the takeover will have an immediate impact on earnings. The acquisition is subject to regulatory approvals and customary closing conditions. Upon completion of the transaction, Farrow will become a fully owned subsidiary of Kühne+Nagel. ce/mm

Supporting partner

Swiss Pavilion Digital