et another family-owned customs brokerage has recently undergone acquisition. Kuehne+Nagel Group announced yesterday that the company is set to acquire Russell A. Farrow.
Completion of the transaction is expected during the first quarter of 2024. The acquisition is subject to approval from regulatory authorities and customary closing conditions. Upon close, Farrow will become a fully owned subsidiary of Kuehne+Nagel.
Rick Farrow, Chairman, Farrow added, “We are excited to take our successful long-time, family-owned business to the next level and welcome the opportunity to be part of one of the world’s leading logistic companies. 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.”