A.P. Moeller-Maersk (Maersk) will buy Performance Team, a US-based warehousing and distribution company to further strengthen its capabilities as an integrated container logistics company, offering end-to-end supply chain solutions.
In a statement, Maersk described Performance Team as “a leader in North America warehousing and distribution” with “B2B and B2C distribution solutions within retail, wholesale and e-commerce”.
Vincent Clerc, CEO of Ocean and Logistics at Maersk, said the acquisition will “significantly boost” the carrier’s warehousing and distribution offering.
“This will strength our ability to deliver products and solutions that our meet our customers’ end-to-end supply chain needs.
“With its strong platform, Performance Team is a good match for A.P. Moller – Maersk as they complement our current Warehousing & Distribution proposition to customers in North America and will enable future growth.”
The global size of the warehousing and distribution sector is estimated at $200 billion and $50 billion in the US alone.
There is a significant growth opportunity for 3rd party Warehousing & Distribution players as only a small part of the warehousing & distribution sector in North America is currently outsourced and e-commerce is growing 12% annually.
Narin Phol, Regional Managing Director of Maersk in North America, said the carrier was “going all the way” for its customers and offer new ways to optimize their supply chains.
Performance Team operates 24 warehousing sites across 800,000 square meters across strategic supply chain locations. Its profits have grown by 17% over the past four years.
Craig Kaplan, CEO of Performance Team, described Maersk as “the ideal fit” for the company’s future plans.
“Maersk has a significant presence here in the US,” he said.
“They have a continuous improvement mindset like ours and together we can clearly deliver attractive logistics solutions that make our customers more competitive while ensuring our employees grow with the business.” Our focus will continue to be customer-centric and we are excited about delivering results for years to come,”