Kerry Logistics Completes U.S. Acquisition
Kerry Logistics Network Limited, a Hong Kong-based logistics service provider, recently completed its acquisition of a majority stake in APEX Maritime and its affiliated companies.
Headquartered in South San Francisco, APEX was founded in 1990 and is in the top three non-vessel operating common carriers (NVOCC) ranked by Asia-to-U.S. import volumes in 2015.
The acquisition is part of Kerry Logistics’ long-term international freight forwarding strategy to expand its sales network and coverage worldwide.
With over 20 years of experience in the industry, APEX specializes in transpacific trade lanes and handled over 270,000 TEU in 2015.
The increased capacity through this acquisition means more options, expanded geographies, and better cost optimization for customers of both companies. Kerry Logistics’ international customers now have a dedicated sales team on the ground to look after their business in the U.S. market, as well as gaining complete supply chain visibility from origins to destinations. APEX’s diverse base of customers now have access to a global network with enhanced service offerings and solid logistics support across Asia.
“The acquisition of APEX is a major leap forward in our global expansion plan,” said William Ma, group managing director of Kerry Logistics. “The Asia-U.S. trade plays an important role in our international freight forwarding growth strategy. APEX will form an important business arm that further strengthens our global network, enabling us to tap into new opportunities from transpacific trades. It will also bring mutual benefits to both companies, with enriched service offerings and extensive marketing network in the U.S. to Kerry Logistics’ customers as well as strong pan-Asia logistics support to APEX’s customers.”
“Our customers will gain global scale and best practices in supply chain management, while maintaining their relationship with the same team that has served them for years,” said Vic Cheung, CEO of APEX.
“In APEX, we are partnering with a team that has been meticulously built over the last two decades and shares the same vision of becoming a global partner of our customers,” Ma added. “Integration is already underway. The expansion of global presence will better position Kerry Logistics to strengthen its international service capabilities and to seize business opportunities in a way to benefit its core operations in Asia.”
Need a Logistics Provider?
Compare over 100 Instantly
Everyone’s Breaking Into Breakbulk