Maersk Completes Acquisition of Performance Team
A.P. Moller - Maersk has closed its acquisition of Performance Team, a U.S.-based warehousing and distribution company.
The move further strengthen its capabilities as an integrated container logistics company offering end-to-end supply chain solutions, said the company in a statement. “The addition of Performance Team’s engineered solutions and distribution center capabilities to retail, wholesale and direct to consumer services will integrate ideally with Maersk Warehousing & Distribution’s regional network of 20+ facilities in the U.S. and Canada offering logistics solutions, transload, consolidation, e-commerce fulfillment, inland drayage, facility management, yard management and value-added services.
The Warehousing & Distribution component of landside supply chains is increasingly the best control valve for the flow of goods to regional distribution centers, stores and consumers as businesses seek to improve their competitiveness, control inventory management and improve the consumer experience, says Maersk.
“Our customers now have the opportunity to add Performance Team’s omnichannel fulfillment services into their supply chain to create a hold and flow model customized to their specific needs. This approach to marketplace fluctuations combined with the scope of our Maersk Warehousing & Distribution services, creates added flexibility and winning choices for supply chain managers enabling them to better serve their customers in these challenging times,” said Narin Phol, Regional Managing Director of Maersk in North America.
The global value of the warehousing and distribution sector is estimated at more than $200 billion, and for North America it is $50 billion. There is a significant growth opportunity for third party players as only a small part of the warehousing and distribution sector in North America is currently outsourced, and e-commerce is growing 12 percent annually.
The transaction has been valued at $545 million.