A.P. Moller Maersk has obtained one of its targets to invest an amount of the billions that it made during the record-breaking container shipping year. The Danish company has announced the $3.6bn purchase of Hong Kog’s LF Logistics, taking Maersk further on its pathway to become an integrator of logistics. There is speculation that a third major acquisition will be completed by Maersk in the near future.
“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 its existing portfolio increasing the number of warehouses to 549 worldwide which speeds the total area of 9.5m square meters.
LF Logistics specialises in B2B and B2C distribution solutions for wholesale, retail, and eCommerce. It is a privately-owned business owned by Li & Fung (78.3%) and Temasek Holdings (21.7%).
As part of the deal to purchase LF Logistics, Maersk has formed a strategic alliance along with Li & Fung to develop a broad range of complete global supply chain services , with Li & Fung focusing on the supply chain in the upstream, and Maersk focussing upon the supply chain downstream.
In the last month, cash-rich Maersk has stepped up its airfreight strategy by buying German cargo forwarder Senator International as well as increasing its fleet of air freighters with five aircrafts.