Breaking News: Maersk agrees $3.6 bln deal to buy LF Logistics

Some amazing news before the holidays. Maersk has reached an agreement to acquire LF Logistic.

We welcome an exceptional company to the Maersk family. This is another logic step in our Integrator Strategy & drive to offer customers seamless end-to-end services. We go All The Way.

Today Maersk agreed to buy Hong Kong-based LF Logistics for $3.6 billion in an all-cash deal, as it seeks to expand beyond its core ocean freight business.

• Part of Maersk’s aim to expand land-based services
• Price implies LF Logistics value more than doubled since 2019
• Maersk aims to more than double revenue at LF Logistics by 2026
• Includes 223 warehouses, 10,000 employees in 14 Asian countries

The deal is one of the group’s largest takeovers to date and follows a series of acquisitions including e-commerce firms, a freight forwarder specialised in air freight and its smaller rival Hamburg Sud.

“The acquisition will further strengthen Maersk’s capabilities as an integrated container logistics company, offering global end-to-end supply chain solutions to its customers,”

With a network of 223 warehouses and around 10,000 employees in 14 Asian countries, LF Logistics provides land-based logistic services such as warehousing and trucking to over 250 global customers.

The company had revenue of $1.3 billion last year. Maersk said it expects to more than double the revenue and operating profit at the company by 2026.