Maersk makes logistics acquisition
22 / 12 / 2021
LF Logistics operations. Photo: LF Logistics
Maersk is expanding further into logistics and supply chain management with the acquisition of LF Logistics.
The acquisition of Hong-Kong-based LF Logistics, owned by Li & Fung (78.3%) and Temasek Holdings (21.7%), supports Maersk’s strategy to become an end-to-end supply chain player.
Earlier this month, the shipping company signed an international freight supply chain management partnership with Unilever, while in November, it delved into the air cargo market with the acquisition of freight forwarder Senator International.
LF Logistics operates an extensive Pan-Asian network and specialises in B2B and B2C distribution solutions within retail, wholesale, and e-commerce.
As part of its global freight management division, its freight forwarding offering includes integrated and scalable sea, air, ground, inter-modal, and customs brokerage services.
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 sqm.
As part of the agreement to acquire LF Logistics, Maersk will enter a strategic partnership with Li & Fung to develop logistics solutions.
“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,” said Soren Skou, CEO of Maersk.
“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.”