Copenhagen, Denmark —A.P. Moller-Maersk announces that it has reached an agreement to acquire Performance Team, a US-based warehousing and distribution company. Performance Team specializes in B2B and B2C distribution solutions within retail, wholesale and e-commerce with 24 warehousing sites.
“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. With its strong platform, Performance Team is a good match for A.P. Moller-Maersk as they complement our current Warehousing & Distribution proposition to customers in North America and will enable future growth,” said Vincent Clerc, CEO of Ocean & Logistics at A.P. Moller-Maersk.
Maersk says it is targeting the warehousing and distribution component to offer more supply chain options and flexibility to its ocean customers. “The global size of the warehousing and distribution sector is estimated at more than US$200 billion and for North America it is US$50 billion. There is a significant growth opportunity for third party warehousing and distribution players as only a small part of the warehousing and distribution sector in North America is currently outsourced and e-commerce is growing 12 per cent annually,” said Maersk.
“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 & 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,” said Narin Phol, Regional Managing Director of Maersk in North America.
Performance Team is a family run business that began operations in 1987 in California, US. Today, the company operates 24 warehousing sites covering 800,000 square meters across strategic supply chain locations.
“Joining a global container logistics leader like A.P. Moller-Maersk is the ideal fit for Performance Team’s future growth, our customers and associates. Maersk has a significant presence here in the US. They have a continuous improvement mindset like ours and together we can clearly deliver attractive logistics solutions that make our customers more competitive while ensuring our employees grow with the business. Our focus will continue to be customer-centric and we are excited about delivering results for years to come,” said Craig Kaplan, CEO of Performance Team – who will remain CEO of Performance Team once the transaction closes.