Kuehne & Nagel takes over Hollis
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• One of the world's largest freight forwarders, Kuehne & Nagel, has acquired the controlling interests of Berkshirebased Hollis Transport Group. Colin Smart will remain managing director and keep 40% of the shares. But Derek Hull, chairman of Kuehne & Nagel — which is 50% owned by Lorthro — is now also chairman of the Hollis Transport Group.
The 20-year-old company has a fleet of 100 vehicles, and is involved in industrial haulage work. Smart says he agreed to the merger because he needs the backing of a 'big company to enable him to expand his operations in preparation for 1992 and the Single European Market.
Kuehne & Nagel is expanding its network of transport and warehousing companies across Europe and is expected to announce further purchases in the next few months.