Acquisition to add critical capabilities for Maersk in the Asia-Pacific region
AP Moller-Maersk (Maersk) has reached an agreement to acquire LF Logistics, a Hong Kong-based contract logistics company, with premium capabilities within omni-channel fulfillment services, e-commerce, and inland transport in the Asia-Pacific region.
“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,” said Soren Skou, CEO, Maersk.
LF Logistics, with its Asia-Pacific wide footprint and industry leading fulfillment capabilities, matches Maersk’s strategic intent to support customers’ supply chain needs end-to-end as a trusted partner in control of the assets.
With the intended acquisition, 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 square meters.
“LF Logistics has built an unparalleled track record of executing a superior omni-channel strategy for customers, which is a unique position we can use to build and operate fulfillment to customers across our network,” remarked Vincent Clerc, CEO, Ocean & Logistics, Maersk.
As part of the agreement to acquire LF Logistics, Maersk will enter a strategic partnership with Li & Fung to develop logistics solutions. “Together we will deliver a compelling value proposition that allows our people to attain their full potential and our customers to achieve sustainable competitive advantage,” said Joseph Phi, CEO, Li & Fung and LF Logistics.