USCO Logistics Bought by Swiss Logistics Giant

USCO Logistics, the North American warehouse and distribution company headquartered in Hamden, Conn., will be acquired by Kuehne & Nagel International AG of Schindellegi, Switzerland.

With 3,300 employees, USCO Logistics manages more than 15 million square feet of shared and dedicated space at more than 70 locations in the United States, Canada and Mexico. USCO Logistics has achieved annual revenue growth in excess of 30 percent during the last three years by serving mainly high-tech, retail and pharmaceutical industries.
Kuehne & Nagel currently employs 14,000 workers at 530 locations in 90 countries. The company provides IT (Information Technology) based supply chain management in the ocean, air freight and contract logistics businesses.
The agreement is subject to antitrust approvals and other conditions. The purchase price is approximately $300 million plus other considerations.