Kerry Logistics Network Limited (Kerry Logistics) has completed its US acquisition of a majority stake in Apex Maritime and its affiliated companies (APEX).
APEX is a top 5 ranked NVOCC (Non-vessel Operating Common Carrier) according to Datamyne reports. The move is part of Kerry Logistics’ long-term international freight forwarding (IFF) strategy to expand its sales network and coverage worldwide. In 2015 alone APEX handled over 270,000 TEUs, and the increased capacity through this partnership means more options, expanded geographies and better cost optimization for customers of both companies.
William Ma, Group Managing Director of Kerry Logistics, said, “The acquisition of APEX is a major leap forward in our global expansion plan. 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. 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. We are enthusiastic to grow with Kerry Logistics from now on,” said Vic Cheung, CEO and President of APEX.