Kuehne + Nagel is managing Farrow
The logistics company is strengthening its global position with the purchase of Canadian customs broker Faro. This deal enhances growth and expands the scope of service.
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Logistics company Schwyz Kühne+Nagel buys Canadian customs broker Farrow. The logistics group announced on Tuesday evening that the acquisition complements Kuehne + Nagel’s offerings for companies that increasingly rely on customs clearance services and supports growing demand in an increasingly complex international trade regulations environment.
Kühne+Nagel is taking another step towards its growth goals in its 2026 roadmap. Farrow, which is headquartered in Windsor, Ontario, can look back on a 112-year tradition and has 830 employees at 41 locations in Canada and the USA. . In 2022, Faro managed more than 1.5 million customs applications, she said.
The acquisition of Farrow will have an immediate positive impact on earnings and will complement the company’s customs capabilities, particularly on the US-Canadian and Mexican borders. The deal is expected to be completed in the first quarter of 2024.
It is subject to the approval of supervisory authorities and usual closing conditions. Following completion of the transaction, Farrow will become a wholly-owned subsidiary of Kühne+Nagel.
Annual business plan
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