News / Kuehne + Nagel set to buy Asian forwarder Apex – its largest takeover yet

Kuehne + Nagel is set to expand its presence in Asia with the purchase of freight forwarder Apex International Corporation – described as the largest acquisition in the Swiss company’s history.

The two parties said the purchase price would remain undisclosed for the time being, although a Bloomberg report values the deal at $1.5bn.

Apex was founded in China in 2001 and has expanded across Asia, making it an increasingly attractive takeover target – in 2015, the majority of its stock was ...