In December of last year, it was announce that logistics giant was set to purchase LF Logistics for $3.6 billion. The acquisition has now been completed and will allow Maersk more access to the Pan-Asian supply chain market.
LF Logistics, with its Asia-Pacific wide footprint and industry-leading fulfilment capabilities, will play a critical role in advancing Maersk’s strategic intent to support customers’ end-to-end supply chain needs.
As part of the strategic sale of its LF Logistics business, the parent company of LF Logistics, Li & Fung has formed a strategic partnership with Maersk that will enable both companies to utilise their respective resources and global networks to create a range of end-to-end global supply chain services.
Additionally, it will acquire and continue to build the ‘Global Freight Services’ business following the completion of the transaction.
“I am pleased to welcome LF Logistics to Maersk. Historically, our focus has been on origin logistics or exports out of Asia, but now the region has transitioned into a large consumer market in its own right. Going forward, Maersk and LF Logistics will become one team, providing strong omnichannel fulfilment capabilities that will enable exports into Asia and also connect us with the Asian consumer directly,” said Ditlev Blicher, Regional Managing Director of Asia Pacific at A.P. Moller – Maersk.