Maersk buys California's Performance to boost warehousing, trucking
AP Moller Maersk is acquiring US warehousing and distribution firm Performance Team for US$545 million in a bid to strengthen the shipping giant's ability to meet customers' end-to-end supply chain needs
25 February 2020 - 19:00
Maersk said the total acquisition price includes $225 million in lease liabilities. Subject to regulatory approval, the transaction is expected to close on April 1.
'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,' said Maersk ocean and logistics chief Vincent Clerc.
'With its strong platform, Performance Team is a good match for Maersk as they complement our current warehousing and distribution proposition to customers in North America and will enable future growth.'
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