Maersk Enters Into Agreement To Acquire LF Logistics Holdings
Dec 22, 2021 By MarketDepth
A.P. Moller – Maersk (OTCMKTS: AMKBY), a Danish shipping company, has entered into an agreement to acquire LF Logistics Holdings in an all-cash deal. The hong-kong based contract logistics company, valued at USD3.6 Million, specializes in omnichannel fulfillment services, e-commerce as well as inland distribution.
“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 provides digitally enabled end-to-end logistics solutions based on control of critical assets. With the acquisition of LF Logistics, we add critical capabilities in Asia Pacific to support our customers long term growth in Asia Pacific as well as capabilities and technology we can scale in our contract logistics business globally.”Soren Skou, CEO of Maersk
Amid the deal, Maersk will have a total of 102.3 million square feet of warehouse space throughout 549 locations. Nevertheless, the transaction is subject to regulatory approvals and is anticipated to close in 2022, according to the company.
Containers by Sea
Maersk transports approximately a fifth of the world’s containers by sea and has made the decision to expand in land logistics where it expects a better potential for growth and profit margins. Moreover, the company had previously announced plans to purchase air-freight company Senator International, as it strives to evolve.
“We are on a journey away from being a container line sailing with containers from Hong Kong to Rotterdam to being a logistics company delivering solutions which enables our clients to get all the way from where goods are produced to where consumers are.”Soren Skou, CEO of Maersk