Canadian freight forwarder Farrow acquired by Kuehne+Nagel
Kuehne+Nagel, the world’s largest 3PL, announced Tuesday it has acquired Farrow, a 112-year-old, family-owned customs broker based in Windsor, Ontario.
The acquisition immediately boosts Kuehne+Nagel’s profitability and expands the company’s customs offerings at the Canadian and Mexican borders, according to a news release.
“With Farrow, we acquire a leading, diversified customs brokerage and logistics company that brings with it a proven track record of success, a growth-oriented mindset, and significant business scalability,” Hansjorg Rodi, responsible for road logistics at Kuehne+Nagel International AG, said in a statement.
Farrow was founded in 1911 by Russell Farrow, who saw an opportunity on the Detroit River to create a barge service for transporting goods between Windsor and Detroit. Today, Farrow is Canada’s largest independently owned customs agency, with 830 employees in 41 locations across the U.S. and Canada. Last year, the firm managed over 1.5 million customs entries.
“We are excited to take our successful long-time, family-owned business to the next level,” Chairman Rick Farrow said in a statement. “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.”
The price of the acquisition was not disclosed. Completion of the transaction is expected during the first quarter of 2024. Upon closing, Farrow will become a fully owned subsidiary of Kuehne+Nagel.
Headquartered in Switzerland, Kuehne+Nagel has over 80,000 employees at 1,300 locations in 100 countries. The company has 400,000 customers worldwide and is one of the top air and sea logistics providers by gross tonnage and revenue. Kuehne+Nagel also provides solutions in road and contract logistics.
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