Hong Kong-listed Kerry Logistics today completed its US acquisition of a majority stake in in Apex Maritime and its affiliated companies.
Headquartered in South San Francisco, APEX is among the top three Non-vessel Operating Common Carriers ranked by Asia to US import volumes in 2015 according to Datamyne reports. The move is part of Kerry Logistics’ long-term international freight forwarding strategy to expand its sales network and coverage worldwide.
APEX specializes in trans-Pacific trade lanes and handled over 270,000 teu in 2015. The increased capacity through this partnership means more options, expanded geographies and better cost optimization for customers of both companies, according to Kerry Logistics.
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.”