Maersk to buy LF Logistics for $3.6 billion

A.P. Moller – Maersk announced the $3.6bn acquisition of Hong Kong-based LF Logistics, taking Maersk further down its avowed corporate path to becoming 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 strategic milestone on our journey to becoming the major global integrator of container logistics; a global logistics company that provides 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 its existing portfolio, bringing the total number of facilities to 549 globally, spread across a total of 9.5m sq m.

LF Logistics specializes 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 the transaction to acquire LF Logistics, Maersk agreed on a strategic partnership with Li & Fung to develop a comprehensive range of end-to-end global supply chain services in which Li & Fung will focus on the upstream supply chain and Maersk will concentrate on the downstream supply chain.

Source: Splash247

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