A.P. Moller – Maersk (Maersk) has reached an agreement to acquire LF Logistics, a Hong Kong-based contract logistics company in the Asia-Pacific region.
LF Logistics, with its Asia-Pacific wide footprint and fulfilment capabilities, matches Maersk’s intent to support customers’ supply chain needs end-to-end as a trusted partner in control of the assets, Maersk wrote in a statement.
Maersk will add 223 warehouses to the existing portfolio, bringing the total number of facilities to 549 globally, spread across a total of 9.5 million square meters.
As part of the agreement to acquire LF Logistics, Maersk will enter a strategic partnership with Li & Fung to develop logistics solutions.
LF Logistics operates an extensive pan-Asian network and is the supply chain partner of choice for companies looking to grow in the Asia-Pacific region.
LF Logistics specialises in B2B and B2C distribution solutions within retail, wholesale, and e-commerce
Soren Skou, CEO of Maersk, commented, “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.
“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.”
Joseph Phi, CEO of Li & Fung and CEO of LF Logistics, added, “Maersk provides the ideal fit for our people and our customers. It has a substantial presence around the world and will utilise LF Logistics’ talent base and operational platform across Asia to build out its logistics and fulfillment offering globally.
“This is testament to the strength of our team, our unique operations-centric culture, and superb growth potential. 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.”
