ID Logistics, a French logistics group that acquired GVT Logistics in the Netherlands last year, has now acquired Kane Logistics in the United States. Kane, which is active in contract logistics, spearheaded $ 235 million last year and has twenty branches in the United States.
Eric Hemer, CEO of IT Logistics: “The acquisition of Kane Logistics is one of the most important external development initiatives in the company’s history. The recent acquisition of GVT at Penelax has strengthened its presence in Europe, and now, with the acquisition of Kane Logistics, we are opening up new perspectives in North America, where we welcome our team of experienced and energetic managers, especially with consumer products customers.
Kane Logistics is a value-added warehouse and contract logistics player founded in the United States in the 1930s by the Kane family, who coined the wonderful corporate motto ‘Kane – is Cable’. Acquired by Harkness Capital Partners in 2019 with the aim of accelerating the growth of the company’s base. Over the past 3 years, Kane Logistics has established itself as a leading player in contract logistics, especially with blue-chip consumer packaged products and food and beverage manufacturers and distributors. Adding value-added services to traditional logistics services and strengthening the overall team, Kane Logistics has increased its revenue by + 20% annually from 2019 to $ 235 million by 2021. Kane Logistics now operates 20 centers nationwide (especially in Pennsylvania, Georgia, Ohio, Illinois and California) covering 725,000 square feet.
Prior to the acquisition, Kane Logistics was valued at approximately US $ 240 million.
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