AP Moller-Maersk inks $545m deal to acquire US warehousing firm

The value of the deal is $545m with the transaction expected to close 1 April 2020 pending regulatory approvals.

“With this acquisition we invest in premium operational capabilities to significantly boost our existing warehousing and distribution offering. This will strengthen our ability to deliver products and solutions that meet our customers’ end-to-end supply chain needs,” said Vincent Clerc, ceo of Ocean & Logistics at AP Moller-Maersk.

“With its strong platform, Performance Team is a good match for AP Moller-Maersk as they complement our current warehousing and distribution proposition to customers in North America and will enable future growth,” Clerc added.

Family-run business Performance Team specialises in B2B and B2C distribution solutions with retail, wholesale and e-commerce with 24 warehousing sites.

The global size of the warehousing and distribution sector is estimated at more than $200bn and for North America it is $50bn.

Narin Phol, regional managing director of Maersk in North America, said: “We are going all the way for our customers, offering new ways to optimise their supply chains, grow their e-commerce business and find warehouses and distribution options. We are especially excited to strengthen our e-commerce fulfilment capabilities since many of our retailers are looking to grow online retail sales in 2020 and beyond.”

Add Seatrade Maritime News to your Google News feed.