Maersk expands US warehousing network with $545M acquisition

Maersk is acquiring Performance Team, a U.S.-based warehousing and distribution company, in a $545 million deal, according to a press release on Wednesday. Performance Team currently operates 24 warehousing sites, encompassing 800,000 square meters, and specializes in B2B and B2C e-commerce, retail and wholesale distribution. The transaction is expected to close Apr. 1. The acquisition will more than double Maersk's warehousing and distribution footprint, which sits at 22 sites covering 563,000 square meters, according to data in the release. The move supports its goal of transporting customer goods "from factory floor to store door," and increasing its end-to-end service market share in North America. "We are especially excited to strengthen our e-commerce fulfillment capabilities since many of our retailers are looking to grow online retail sales," Narin Phol, regional managing director of Maersk in North America said in a statement.