ID Logistics (ISIN: FR0010929125, Ticker: IDL), one of Europe's leading contract logistics providers, has completed the acquisition of 100% of Kane Logistics in the United States. With the addition of Kane to ID Logistics' existing activities in the United States, the new entity – ID Logistics US – has revenues of $350 million (pro-forma, 2021) with 3,000 associates across 26 high-volume, high-turn distribution and packaging centers.
SCRANTON, Pa., April 7, 2022 /PRNewswire-PRWeb/ -- ID Logistics (ISIN: FR0010929125, Ticker: IDL), one of Europe's leading contract logistics providers, has completed the acquisition of 100% of Kane Logistics in the United States.
Founded in 1930 by the Kane family, Kane Logistics provides value-added warehousing, packaging, and truckload services to large-volume shippers of consumer goods, food & beverage, and wine & spirits products. With a 20%+ growth rate since 2019, Kane's revenue rose to $235 million in 2021. The company operates 20 contract packaging and product distribution hubs across the U.S., representing close to 8 million square feet of space.
Combining the ID Logistics and Kane Logistics organizations will give customers strong logistics capabilities across the U.S., Europe, Asia and Africa, with similar operating approaches at all facilities. Both companies have an asset-light business model with a focus on operating facilities dedicated to individual customers where solutions are custom-designed to meet precise customer needs.
With the addition of Kane to ID Logistics' existing activities in the United States, the new entity – ID Logistics US – has revenues of $350 million (pro-forma, 2021) with 3,000 associates across 26 high-volume, high-turn distribution and packaging centers. Kane Logistics' management team will manage all ID Logistics US activities.
Stan Schrader, Chief Commercial Officer of Kane Logistics, is now CEO of ID Logistics US. Schrader's immediate focus will be to sustain high levels of organic growth and drive the commercial synergies offered by this merger.
"The combination of ID Logistics and Kane Logistics provides a unique opportunity to drive value for our customers," says Schrader. "Both companies focus on delivering similar solutions for companies in the same industry sectors, so our customers will undoubtedly benefit from that complementary know-how."
According to Eric Hémar, Chairman and CEO of ID Logistics, "The acquisition of Kane Logistics represents a new strategic step in the history of our Group. It opens up considerable development opportunities for us, particularly with consumer goods customers. We also benefit from a great influx of talent from Kane in the form of dynamic managers who share our same values."
About ID Logistics
ID Logistics is an international contract logistics group, with revenue of €1,911 million ($2,179 million) in 2021. ID Logistics manages 360 sites across 17 countries, representing nearly 8.0 million square meters of warehousing facilities in Europe, America, Asia and Africa, with 27,500 employees. With a client portfolio balanced between the retail, industry, detail picking, healthcare and e-commerce sectors, ID Logistics is characterized by offers involving a high level of technology. Developing a social and environmental approach through a number of original projects since its creation in 2001, the Group is today resolutely committed to an ambitious CSR policy. ID Logistics is listed on Compartment A of Euronext's regulated market in Paris (ISIN Code: FR0010929125, Ticker: IDL).
About Kane Logistics
Kane Logistics is a third-party logistics provider that helps consumer goods manufacturers and their retail partners efficiently and effectively distribute goods throughout the U.S. KANE's omni-channel logistics services include nationwide warehousing and distribution, contract packaging, fulfillment, cross docking and transportation solutions.
Media Contact
Sherrie Miller, Kane Logistics, 1 678-492-3165, [email protected]
SOURCE Kane Logistics
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