Maersk set to buy LF Logistics for $3.6 billion
LF Logistics operates an extensive Pan-Asian network and specialises in B2B and B2C distribution offerings within retail, wholesale, and e-commerce. the company’s customer relations and operational experience will play a significant role as Maersk expands within Asia-Pacific and globally.
The value of the transaction is USD 3.6 billion.
As part of 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.
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,” said Joseph Phi, CEO of Li & Fung and CEO of LF Logistics.
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,” added Soren Skou CEO of Maersk.