A.P. Moller – Maersk has secured one of its target to spend some of the billions it has earned during container shipping’s record year. The Danish company today announced the $3.6bn acquisition of Hong Kog-based LF Logistics, taking Maersk further down its avowed corporate path to become a logistics integrator. Speculation is rife that a second big acquisition will be sealed by Maersk shortly.
“The acquisition of LF Logistics is an important and truly strategic milestone on our journey to become the global integrator of container logistics; a global logistics company that provide digitally enabled end-to-end logistics solutions based on control of critical assets,” commented Soren Skou, CEO of Maersk
Maersk will add 223 warehouses to the existing portfolio, bringing the total number of facilities to 549 globally, spread across a total of 9.5m sq m.
LF Logistics specialises in B2B and B2C distribution solutions within retail, wholesale, and e-commerce. It is a privately owned company by Li & Fung (78.3%) and Temasek Holdings (21.7%).
As part of transaction to acquire LF Logistics, Maersk has entered a strategic partnership with Li & Fung to develop a comprehensive range of end-to-end global supply chain services with Li & Fung focusing on the upstream supply chain and Maersk focusing on the downstream supply chain.
Last month cash-rich Maersk upped its airfreight game, buying German freight forwarder Senator International as well as expanding its air freighter fleet by five planes.