World's Largest Freight Forwarder Acquires Leading Customs Broker

Following the acquisition of Morgan Cargo, a leading freight forwarder in South Africa, in June this year, global logistics and supply chain solutions provider Kuehne+Nagel (the world's No. 1 large ocean freight forwarder) took the next step, and on the 28th, officials of the Swiss logistics company declared that it is strengthening its North American customs clearance business through the acquisition of Farrow, a well-known customs brokerage company in Canada, and supporting its growing needs in an environment of increasingly complex international trade regulations.

 

Hansjörg Rodi, Member of the Board of Management and Head of Road Transportation at Kuehne+Nagel International AG, said in a press release, "With the acquisition of Farrow, we are acquiring a leading, diversified customs brokerage and logistics company with a proven track record of success, a growth-oriented mindset, and significant business scalability."

 

He added, "The acquisition of Farrow significantly accelerates Kuehne + Nagel's growth ambitions in the customs brokerage market, which is an attractive strategic fit, expanding our offering of value-added solutions."

 

 

 

Rick Farrow, Chairman of Farrow, added, "It's great to be able to take our family business to the next level and have the opportunity to be part of a world-leading logistics company. It also combines Farrow's extensive expertise in customs brokerage with the capabilities and global reach of DXN to deliver superior supply chain solutions to our customers and create new career development opportunities for our employees."

 

Headquartered in Windsor, Ontario, Canada, Farrow has been in business for 112 years and employs 830 people in 41 offices across Canada and the U.S. In 2022, the company processed 1.5 million customs declarations.

The acquisition, which is expected to close in the first quarter of 2024, is subject to regulatory approvals. The purchase price has not been disclosed. Upon completion of the transaction, Farrow will become a wholly owned subsidiary of Kuehne+Nagel.

 

 

About Kuehne+Nagel

 

 

Kuehne+Nagel is one of the world's leading logistics providers with nearly 1,300 locations in nearly 100 countries and more than 80,000 employees.Headquartered in Switzerland, Kuehne+Nagel is listed on the Swiss blue chip SMI. The Group is ranked No. 1 worldwide in air and ocean freight logistics and has a strong market position in road and contract logistics.

 

As a member of the Science-Based Carbon Targets Initiative (SBTi), AXA is committed to sustainable logistics by reducing the carbon emissions generated by its own transportation activities and by providing low-carbon logistics solutions to its customers.

 

About Farrow

 

 

Canada's largest independent customs broker with over 110 years of international trade expertise. Experienced in providing reliable and professional customs brokerage, freight forwarding and logistics services.

 

Farrow is a diversified family business with over 110 years of expertise in international trade. The company is owned and operated by the third generation of the Farrow family, with the fourth generation involved in the day-to-day operations.Farrow is one of the largest privately held, family-owned customs brokerage firms in North America.

 

In addition to providing customs brokerage services, Farrow operates four divisions under the Farrow brand.

Farrow Logistics North America
Farrow Global Logistics International Freight Forwarding Global Supply Chain
Farrow Express

 

Farrow Consulting Import/Export and Trade Management Consulting
With 40% of its staff holding customs licenses or professional industry qualifications in transport or freight forwarding, Farrow has earned a reputation for excellence in the shipping and freight forwarding industry for delivering outstanding service and providing exceptional personalized service to its customers.