Copenhagen, Denmark—Oct. 10, 2012—Third party logistics provider (3PL) and freight forwarder Damco (of the A.P. Moller-Maersk Group) signed an agreement to acquire Pacific Network Global Logistics (PacNet) to create a freight forwarding business with a stronger global network and better local service capability in Asia Pacific and Greater China.
“I am happy to be joining forces with PacNet which is another good step forward to further build our global business,” said Rolf Habben-Jansen, Chief Executive Officer, Damco. “PacNet has a high reputation for service in Australia, in the apparel, footwear and retail sectors. We are combining two businesses with very aligned strategies, complementary skills, customer bases and geographic strengths—and we have already seen that our cultures match very well, which is an excellent basis to further improve our ability to serve our joint existing and future customers even better.”
As a result of the acquisition, Damco will have a stronger overall presence in Australia in the segments where PacNet is active for some time. Additionally, Damco will gain market leadership positions in retail and lifestyle sectors in Australia and further strengthen its position in airfreight from China to Australia. Customers of PacNet and Damco will receive highly competitive services, increased frequencies and better access to peak capacity in the fast-growing China-Australia trade lane.
The acquisition will also strengthen Damco’s forwarding capabilities in Australia, Hong Kong and Mainland China. The customers will benefit from improved service offerings, more comprehensive solutions, new products and access to a strong and growing global network.
“We have seen a growing demand for a broader outreach in recent years and we feel that by joining Damco we can provide our customers with a strong global presence,” said Paul Milborrow, Chief Executive Officer, PacNet. “We will now create a leading freight forwarding business in our region with a market leading position in key industries, enabling us to better cater to the demands our customers are raising.”
The PacNet senior management team will join Damco; while the existing operations will not experience any major changes to its staff.
