The third-party logistics provider closed on its purchase of Apex Maritime, a top three non-vessel operating common carrier in terms of Asia-U.S. import volumes, according to trade data firm Datamyne.
Kerry Logistics Network Limited has officially closed on its acquisition of South San Francisco, Calif.-based non-vessel operating common carrier (NVOCC) Apex Maritime, the company said in a statement.
The Hong Kong-based third-party logistics provider said the purchase would allow it to expand in the U.S. market and is part of Kerry Logistics’ long-term international freight forwarding strategy. Financial terms of the deal were not disclosed.
Founded in 1990, APEX is ranked as a top three NVOCC in terms of Asia-U.S. import volumes, according to trade data firm Datamyne. The transpacific specialist offers a full suite of services from ocean and air freight, customs brokerage, to logistics solutions and door-to-door delivery in the U.S. with a focus on consumables and perishables, handling more than 270,000 TEUs in 2015.
Kerry Logistics said integration with APEX, which is already underway, will allow it to provide international shippers with a dedicated sales team in the U.S. market, as well as complete supply chain visibility from origin to destination. Likewise, the company will be able to provide former Apex customers with access to a global network with enhanced service offerings and logistics support across Asia.
“The acquisition of APEX is a major leap forward in our global expansion plan,” Kerry Logistics Group Managing Director William Ma said. “The Asia-US trade plays an important role in our IFF growth strategy and APEX will form an important business arm that further strengthens our global network, enabling us to tap into new opportunities from trans-Pacific trades. It will also bring mutual benefits to both companies, with enriched service offerings and extensive marketing network in the US to Kerry Logistics’ customers as well as strong Pan-Asia logistics support to APEX’s customers.”
“The APEX team is excited to join the Kerry Logistics family,” APEX CEO VIC Cheung added. “We are ready to take full advantage in realizing vast cross-selling opportunities from the integration. 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.
Kerry Logistics acquires U.S.-based NVOCC
