AP Moller – Maersk has reached an agreement to acquire LF Logistics, a Hong Kong-based contract logistics company with premium capabilities within omnichannel fulfilment services, e-commerce, and inland transport in the Asia-Pacific region.
With the intended acquisition, Maersk will add 223 warehouses to its existing portfolio, bringing the total number of facilities to 549 globally, spread across a total of 9.5mn sq mt.
Soren Skou, CEO of Maersk said, “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.”
LF Logistics, privately owned by Li & Fung (78%) and Temasek Holdings (22%), operates an extensive Pan-Asian network and is the supply chain partner of choice for companies looking to grow in the Asia-Pacific region.
Specialising in B2B and B2C distribution solutions within retail, wholesale, and e-commerce, LF Logistics’ deep customer relations and operational excellence is a strong base for Maersk to expand within the Asia-Pacific region and globally.
Joseph Phi, CEO of Li & Fung and CEO of LF Logistics said, “We recognise for LF Logistics to be a global leader in the industry, achieving scale is of paramount importance. 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 fulfilment offering globally. This is testament to the strength of our team, our unique operations-centric culture, and superb growth potential.”