A.P. Moller – Maersk 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. It has a track record of profitable growth of 17 percent per year for the last four years, and revenue for 2019 of USD 525m.
Vincent Clerc, chief executive officer of ocean and logistics at A.P. Moller – Maersk, commented:“With this acquisition we invest in premium operational capabilities to significantly boost our existing Warehousing & 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,”
Craig Kaplan, chief executive officer of Performance Team added:“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,”