Maersk has announced it 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.
According to the company, the acquisition supports Maersk’s strategic intent to support customers supply chain needs end-to-end as a trusted partner in control of its assets.
LF Logistics operates an extensive Pan-Asian network and specialises in B2B and B2C distribution solutions within retail, wholesale, and e-commerce. With the acquisition, Maersk will add 223 warehouses to its existing portfolio, bringing the total number of facilities to 549 globally, across a total of 9.5m sq m.
CEO of Maersk Soren Skou commented: “The acquisition is an important and 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.”
As part of the agreement to acquire LF Logistics, Maersk will enter a strategic partnership with Li & Fung to develop logistics solutions. Maersk stated that it hopes to utilise LF Logistics talent base and operational platform across Asia to build out its logistic and fulfilment offerings globally.