Maersk completes acquisition of HK-based LF Logistics

Shipping firm expands to 549 global warehouses, enhances strength in Asia

A.P. Moller-Maersk, a Danish shipping and logistics service provider, announced on Wednesday that it had completed the acquisition of LF Logistics, a Hong Kong-based contract logistics company with capabilities within omnichannel fulfillment services, e-commerce and inland transport in the Chinese mainland and the Asia-Pacific region.

With a total transaction value of $3.6 billion, Maersk will add 223 warehouses to its existing portfolio, bringing the total number of facilities to 549 globally, with a total floor area of 9.5 million square meters, said the company.

"Maersk in Asia has historically been primarily focused on ocean transportation out of Asia and related logistics services, transporting and managing goods manufactured in Asia for consumer markets in other parts of the world," said Ditlev Blicher, regional managing director of Asia-Pacific at A.P. Moller-Maersk.