German company buys 75% stake in NZ reefer operator
German freight business Kühne + Nagel has announced the purchase of a 75% stake in New Zealand refrigerated container transport company Cooltainer.
After buying three perishable air freight companies in South America in January, Kühne + Nagel board member Peter Ulber says the New Zealand expansion will complement existing activities in the Oceania region.
"New Zealand is of paramount importance for the export of fresh produce to Australia and to islands in the South Pacific," he says.
"We are pleased we can strengthen our market position with this strategically-focused product offering in the region, through cooperation with Cooltainer."
Cooltainer CEO Stuart Grant says high demand for Australian and New Zealand fresh produce will continue, which means the capabilities of specialized logistics services providers will be able to add value for exporters.
Christchurch-based Cooltainer has 45 employees and provides door-to-door logistics services for temperature-sensitive products, according to the Kühne + Nagel release.
Photo: Kühne + Nagel