Kuehne + Nagel has entered into an agreement to take over Bergen, Norway-based J. Martens Holding, a logistics service provider to the oil and gas industry.
J Martens has provided transportation and logistics services for the past 125 years in Norway, and has also set up operations in other key markets such as Singapore, the UK and the Netherlands.
The company achieved a turnover of NOK 1.3 billion last year.
"The acquisition of J. Martens significantly strengthens our capabilities and position, not only in Norway, but also in the international oil and gas logistics market," commented Peter Ulber, Kuehne + Nagel's executive vice president - Sea & Air Logistics.
J. Martens' CEO Didrik Trumpy Martens will join the corporate Kuehne + Nagel Oil & Gas management in future.
The transaction is subject to the approval of relevant authorities.
J Martens has provided transportation and logistics services for the past 125 years in Norway, and has also set up operations in other key markets such as Singapore, the UK and the Netherlands.
The company achieved a turnover of NOK 1.3 billion last year.
"The acquisition of J. Martens significantly strengthens our capabilities and position, not only in Norway, but also in the international oil and gas logistics market," commented Peter Ulber, Kuehne + Nagel's executive vice president - Sea & Air Logistics.
J. Martens' CEO Didrik Trumpy Martens will join the corporate Kuehne + Nagel Oil & Gas management in future.
The transaction is subject to the approval of relevant authorities.