AP Moller-Maersk has announced that it has entered into an agreement with Bridgepoint Development Capital to acquire KGH Customs Services (KGH), a Sweden-based specialist in trade and customs management services, as part of its efforts to enhance its capabilities as an integrated container logistics company.
Maersk believes KGH will significantly improve the company’s overall offering within customs services with its specialised expertise across freight modes and deep knowledge in selected industries, combined with innovative technology.
“There are no end-to-end solutions without customs clearance. With KGH, we will not only be able to strengthen our capabilities within customs services and related consultancy, but also reach more of our customers in Europe through a larger geographical footprint and digital solutions that will enhance our ability to meet our customers´ end-to-end supply chain needs. We achieve all this in one go instead of having to build our expertise through multiple acquisitions,” said Vincent Clerc, CEO of ocean & logistics at AP Moller – Maersk.
Maersk will acquire KGH for a price of $279m on a cash and debt free basis.
Soren Skou, the head of AP Moller-Maersk, said last year that he intended to get half of the group’s revenues coming from landside activities within two years as the world’s largest containerline ramps up its logistics infrastructure.
In February, Maersk also acquired California-based warehousing company Performance Team for $545m.