Kuehne+Nagel has acquired Farrow, a 112-year-old, family-owned customs broker headquartered in Windsor, Ont.
The brokerage has 830 employees in 41 locations across Canada and the U.S., and last year it managed more than 1.5 million customs entries.
Kuehne+Nagel said the acquisition will expand its capabilities, particularly along the Canadian and Mexican borders with the U.S.
(Photo: istock)
“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,” said Hansjörg Rodi, member of the management board, responsible for road logistics, at Kuehne+Nagel International AG, in a press release.
“The acquisition of Farrow greatly accelerates Kuehne+Nagel’s growth ambitions in the customs market and is a compelling, strategic fit, expanding our offering of value-added solutions.”
Brokerage gets a global reach
“This allows us to combine our extensive expertise in customs brokerage with the capabilities and global reach of Kuehne+Nagel, allowing us to provide extraordinary supply chain solutions for our customers, as well as, creating new opportunities for career growth for our colleagues,” added Farrow chairman Rick Farrow.
The transaction is expected to be completed in the first quarter of 2024, subject to approval by regulatory authorities and customary closing conditions.
Once the deal is closed, Farrow will become a fully owned subsidiary of Kuehne+Nagel, which has 80,000 employees at almost 1,300 sites in close to 100 countries and says it supports 400,000 customers.
