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            september 22, 2017

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K+N, Panalpina win approval to takeover Kenyan perishables

  11.09.2017    

The proposed takeovers of two specialist perishables forwarders in Kenya by European logistics giants Kuehne + Nagel (K+N) and Panalpina have been approved by the African nation's competition watchdog on the proviso that certain "conditions" are met.
The Competition Authority of Kenya has approved the acquisition of Air Connection by Panalpina Airflo Ltd, Panalpina Airflo BV and Panalpina Kenya Ltd, but ordered that at least 95 per cent of the employees of Air Connection are retained for at least one year after the transaction's completion date, reported London's Air Cargo News.
The competition authority has imposed a similar condition on K+N's takeover of Trillvane Ltd, again stating that the purchasers "shall retain employees of the Trillvane for at least one year after the date of completion of the transaction".
Panalpina announced the Air Connection proposed takeover in May this year. The deal came two years after Panalpina increased its presence in Kenyan flower logistics by acquiring perishables specialist Airflo, Kenya's second largest air freight forwarder, and only two weeks after Panalpina formally announced the launch of its global perishables network.
When Panalpina announced its Air Connection deal, chief executive Stefan Karlen stated: "Air Connection is specialised in the export of flowers and vegetables from Kenya to multiple destinations including the Netherlands and the UK, and is currently the country's fourth largest forwarder in terms of air freight export volumes. The merged company will handle around 70,000 tons of perishables air freight per year."
K+N announced its proposed Air Connection acquisition in July this year. At that time, K+N stated that the acquisition of Trillvane will enable the Switzerland based group to "strengthen its position in perishables operations between Kenya and Europe, in particular to the UK".
It continued: "With its 130 employees Trillvane is specialised in the export of flowers and vegetables. Its location at the Jomo Kenyatta International Airport in Nairobi provides easy and quick access to all major airlines allowing for later cut-offs and shorter transit times leading to both cost savings and optimal handling of temperature sensitive goods."



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