Global shipping giant A.P. Møller – Maersk last week confirmed buying U.S. warehousing and distribution firm Performance Team. The total size of the deal is expected to be $545 million and it will be finalized by April 1st after required 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,” Maersk Ocean and Logistics CEO Vincent Clerc said in a statement. “With its strong platform, Performance Team is a good match for A.P. Møller – Maersk as they complement our current Warehousing and Distribution proposition to customers in North America and will enable future growth.”
Narin Phol, regional managing director of Maersk in North America, added, “We are going all the way for our customers, offering new ways to optimize their supply chains, grow their e-commerce business and find warehouses and distribution options.
“Performance Team’s expertise, market reputation and scalability will create significant performance gains for our customers that grow and complement our existing Maersk Warehousing and Distribution product in North America. We are especially excited to strengthen our e-commerce fulfillment capabilities since many of our retailers are looking to grow online retail sales in 2020 and beyond,” Phol said.
More than three decades old and headquartered in California, claims to serve more than 5,000 customers operating 8.6 million square feet of warehouse and distribution space.
Image Courtesy: performanceteam.net