The world’s largest container ship operator A.P. Moller – Maersk has agreed to acquire a US-based warehousing and distribution company Performance Team for approximately $545 million. The acquisition of Performance Team will further strengthen the Maersk capabilities as an integrated container logistics company, offering end-to-end supply chain solutions to its customers.
California based Performance Team was formed in 1987. The company is specialized in B2B and B2C distribution solutions within retail, wholesale and e-commerce with 24 warehousing sites. The global size of the Warehousing & Distribution sector is estimated at approximately $200 billion and for North America it is $50billion.
The major expansions and deals by Maersk are mentioned below:
December 2019: Maersk announced the opening of its new logistics centre in Bac Ninh to address the needs of a high-demand North Vietnam market. The new warehouse facility offers premium Warehousing and Distribution solutions to support our customers and the significant trade growth in the region.
November 2019: Maersk extended its partnership with Syngenta by signing a new contract for fourth-party logistics (4PL) concept. A 4PL logistics provider takes third-party logistics further by managing resources, technology, infrastructure and other logistics providers serving the client to design, build and provide customised supply chain solutions.
June 2019: Maersk started the construction of its first cold store in St. Petersburg, Russia. The new warehouse constructed by the Russian industrial developer PNK Group, the facility will be located within the PNK Park Sofiyskaya KAD in St. Petersburg and has 23 700 square metres, with 35 docks able to serve daily throughput of up to 200 trucks and the warehouse will employ more than 200 employees.
February 2019: Maersk announced that it has agreed to acquire Vandegrift, based in New Jersey, to strengthen and broaden the company’s service offering to customers.
About A.P. Moller – Maersk
A.P. Moller – Maersk, headquartered in Copenhagen, Denmark is an integrated container logistics company. The company is one of the largest container ship and supply vessel operators across the world. The company has a dedicated team of more than 76,000 people, operating in around 130 countries of the world.
Maersk’s logistic network covers over 300 ports across the worldwide. The company provides a fast, reliable and regular connection to all corners of the world.