AP Muller – Maersk Group announced today the completion of its acquisition of LF Logistics, a Hong Kong-based contract logistics company with premium capabilities in multi-distribution, e-commerce and ground transportation services in the Asia-Pacific region. As a result, LF Logistics Will be rebranded under the Maersk brand.
Dilev Blicher, Regional Director of Asia Pacific atA.P. Moller – Maersk., said: “I am excited to welcome you LF Logistics to Maersk Maersk in Asia has historically focused primarily on maritime transport outside of Asia and related logistics services. with the addition of LF Logistics, Maersk gains unique capabilities to serve the important and fast-growing consumer markets in Asia. Moreover, expertise LF Logistics Multiple distribution channels position us well with the global e-commerce market.’
Following the acquisition, Maersk will add 223 warehouses to its existing portfolio, which will bring the total number of facilities to 549 worldwide, spread over a total of 9.5 million square meters.
LF Logistics Employs 10,000 people, operates an extensive pan-Asian network, and is the preferred supply chain partner for companies looking to grow in the Asia-Pacific region. LF Logistics Specializes in distribution solutions B2B and-B2C in retail, wholesale and e-commerce and has a track record of deep customer relationships and operational excellence, which is a strong foundation for Maersk to expand in Asia-Pacific and globally.
The value of the transaction is 3.6 billion dollars (enterprise value) after standard lease obligations IFRS 16.