ID Logistics also acquires in the United States • TTM.nl

ID Logistics, the French logistics group which acquired GVT Logistics in the Netherlands last year, has just acquired Kane Logistics in the United States. Kane, active in contract logistics, achieved a turnover of 235 million US dollars last year and has twenty branches in America.

Eric Hémar, CEO of ID Logistics: “The acquisition of Kane Logistics represents one of the most important external growth operations in the company’s history. After starting in 2001 with a few large retail customers that we were able to quickly support internationally, the company turned to e-commerce and retail preparation in 2013 with the acquisition of CEPL. It then strengthened its presence in Europe with the recent acquisition of GVT in Benelux. Today, with the acquisition of Kane Logistics, we are opening up new prospects in North America, where we are strengthening our know-how, particularly with consumer goods customers, and welcoming experienced and dynamic managers to our team.

Kane Logistics is a value-added warehousing and contract logistics company, founded in the United States in 1930 by the Kane family, who coined the fabulous corporate slogan “Kane – is able”. The company was acquired by Harkness Capital Partners in 2019 with the aim of expanding the company’s platform and accelerating its growth. Over the past 3 years, Kane Logistics has profoundly transformed itself into a leading player in contract logistics, particularly with manufacturers of consumer packaged goods and food and beverages and distribution specialists. By adding value-added services to traditional logistics services and strengthening the global team, Kane Logistics has grown revenue by +20% per year since 2019 to reach $235 million by 2021. Kane Logistics now operates 20 hubs across the country (especially in Pennsylvania, Georgia, Ohio, Illinois and California) representing 725,000 square feet.

Prior to the acquisition, Kane Logistics was valued at approximately US$240 million.