Platinum Equity Group on Monday said it is selling its ACR Logistics unit to Kuehne & Nagel International AG of Switzerland for about $528 million plus $60 million in assumed debt.

The transaction, which is subject to regulatory approval, is expected to be completed in early 2006.

Platinum, the Beverly Hills-based acquisition firm owned by billionaire Tom Gores, acquired ACR, then known as Hays Logistics, from Hays Plc in February 2004. It re-launched the company under the new name, Platinum said in a statement.

Paris-based ACR, which employs 15,000 people at operations in 11 European countries, provides supply-chain design, information systems and data management and transport services. The company is forecasting full-year revenues of nearly $1.6 billion.

Kuehne & Nagel said in a statement that the acquisition will be financed with a combination of cash and the issuance new stock equal to 7.1 percent of its share capital. Pricing of the transaction will occur on or about Oct. 20. The acquisition of ACR is the largest in Kuehne & Nagel’s history and will help expand its contract logistics business, the company said.

Schindellegi, Switzerland-based Kuehne & Nagel has annual revenues of about $9 billion employs 25,000 people in 98 countries.