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Maersk continues push into logistics with latest takeover

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https://www.reuters.com/world/uk/workers-uks-biggest-container-port-felixstowe-due-begin-8-day-strike-2022-08-21/

Shipping giant AP Moller Maersk has completed the acquisition of e-commerce supply chain firm LF Logistics in a deal with an enterprise value of $3.6bn.

Hong Kong-headquartered LF Logistics employs 10,000 people, operates an extensive Pan-Asian network across 223 warehouses and specialises in B2B and B2C distribution solutions within retail, wholesale, and e-commerce.

Ditlev Blicher, regional managing director of Asia Pacific at AP Moller Maersk, said: “Maersk in Asia has historically been primarily focused on ocean transportation out of Asia and related logistics services.

“Transporting and managing goods manufactured in Asia for consumer markets in the West and beyond. With the addition of LF Logistics, Maersk gains unique and best-in-class capabilities to servicing the important and fast-growing consumer markets in Asia.

“Furthermore, LF Logistics expertise in omnichannel fulfilment positions us well with the global e-commerce market.”

As part of the transaction to acquire LF Logistics, Maersk has entered a strategic partnership with Li & Fung to develop a comprehensive range of end-to-end global supply chain services with Li & Fung focusing on the upstream supply chain and Maersk focusing on the downstream supply chain.

Cash-rich Maersk has made a series of acquisitions in the logistics sector over the last year as it looks to extend its ability to offer services across the supply chain.

In June, the company completed the acquisition of Senator International for $644m to boost its presence in forwarding and airfreight.

This followed the purchase of Pilot Freight Services in May.

The company has also launched its own airline.

https://www.reuters.com/world/uk/workers-uks-biggest-container-port-felixstowe-due-begin-8-day-strike-2022-08-21/

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