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Monday, 14/02/2022, 07:00 (GMT +7)
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Maersk acquires Pilot Freight Services for $1.7 billion
Maersk plans to buy US-based Pilot Freight Services - which specializes in express delivery of large and bulky goods - in a deal worth $1.68 billion.
Pilot Freight Services (Photo: Pilot Freight Services)
Subject to regulatory approval, the agreement will bring Pilot Freight Services' 87 North American transit stations and hubs to be owned by the Maersk Group, expanding the group's presence in the United States to about 150 facilities. The acquisition was announced in Maersk's 2021 financial results.
Pilot Freight Services includes first, middle and last mile road logistics for B2B and B2C customers, as well as cross-border solutions, Maersk said. Pilot Freight Services specializes in transporting large and bulky goods over 70kg for the B2C market and time- and high-value goods in the B2B market, with full truckload and pickup services. LCL.
Maersk sees continued growth in the large and bulky freight sectors, driven by the shift to e-commerce in market segments including retail, home furnishings, electronics consumer, aerospace, automotive and healthcare.
Pilot Freight Services acquired Linehaul Corporation of America in July 2021, expanding its mid-mile and truckload operations.
“This acquisition will add even more expertise and supply chain capacity to customers facing capacity constraints and multiple handoffs with providers in the B2C and B2B space. After completion of this transaction, we will be able to help them install stronger, more integrated supply chains with better visibility and better outcomes for consumers,” said Narin Phol, Regional Operations Manager at Maersk North America said.
Maersk has rapidly expanded its reach in the North American logistics market, in line with its ambition to become an integrated logistics company rather than a shipping company.
Pilot Freight Services CEO Zach Pollock said: “This is the ideal outcome for our customers, company and employees who will be able to tap into the ambitious transformation of simplifying and integrating global supply chains which will enable us to perform on a larger stage.”
Read more:
- Maersk opens a new service connecting Vietnam, China with the US East Coast
- Maersk's Q4 2021 business results exceeded expectations as freight rates increased by 80%
- Schedule reliability below 40% in 2021, Maersk stays on top
- Maersk acquires LF Logistics from Li & Fung for $3.6 billion to expand Asian market
Source: Phaata.com (According to SeatradeMaritime)
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