• ITVI.USA
    15,532.820
    -111.320
    -0.7%
  • OTLT.USA
    2.879
    0.005
    0.2%
  • OTRI.USA
    20.740
    0.050
    0.2%
  • OTVI.USA
    15,520.340
    -104.260
    -0.7%
  • TSTOPVRPM.ATLPHL
    2.820
    -0.100
    -3.4%
  • TSTOPVRPM.CHIATL
    3.580
    -0.100
    -2.7%
  • TSTOPVRPM.DALLAX
    1.260
    -0.030
    -2.3%
  • TSTOPVRPM.LAXDAL
    3.650
    0.030
    0.8%
  • TSTOPVRPM.PHLCHI
    2.330
    -0.090
    -3.7%
  • TSTOPVRPM.LAXSEA
    4.020
    -0.150
    -3.6%
  • WAIT.USA
    127.000
    -1.000
    -0.8%
  • ITVI.USA
    15,532.820
    -111.320
    -0.7%
  • OTLT.USA
    2.879
    0.005
    0.2%
  • OTRI.USA
    20.740
    0.050
    0.2%
  • OTVI.USA
    15,520.340
    -104.260
    -0.7%
  • TSTOPVRPM.ATLPHL
    2.820
    -0.100
    -3.4%
  • TSTOPVRPM.CHIATL
    3.580
    -0.100
    -2.7%
  • TSTOPVRPM.DALLAX
    1.260
    -0.030
    -2.3%
  • TSTOPVRPM.LAXDAL
    3.650
    0.030
    0.8%
  • TSTOPVRPM.PHLCHI
    2.330
    -0.090
    -3.7%
  • TSTOPVRPM.LAXSEA
    4.020
    -0.150
    -3.6%
  • WAIT.USA
    127.000
    -1.000
    -0.8%
American ShipperContainerEuropeInternationalMaritimeNewsSupply ChainsTrade and Compliance

Maersk aims to expand European customs brokerage footprint

Global liner carrier continues acquisitions that tie land-side logistics to container services

A.P. Moller-Maersk Group (OTCMKTS: AMKBY) has reached an agreement with Bridgepoint Development Capital to acquire the Swedish customs broker, KGH Customs Services, for an estimated $279 million.

The liner carrier said the acquisition of the Gothenberg, Sweden-based company, which is subject to regulatory approval, will expand its customs services offerings to European shippers.

“We achieve all this in one go instead of having to build our expertise through multiple acquisitions,” said Vincent Clerc, CEO of ocean and logistics at A.P. Moller-Maersk, in a statement released on Monday, July 6.

“KGH has a strategy focused on digital solutions and technology as an enabler for a more seamless customer experience, which also corresponds with Maersk’s own digital transformation journey,” Maersk added in a press release.

According to Maersk, KGH has in the past years achieved double-digit annual growth resulting in revenue of about $95.5 million, recurring earnings before interest, taxes, depreciation and amortization (EBITDA) of about $17.2 million, and an EBITDA margin of about 18%. KGH has 775 employees and a yearly business of 1.98 million import clearances.

With the acquisition, Maersk estimates that it will have 960 customs services employees across offices in 22 European countries. This will result in an estimated 2.38 million import customs clearances, and a combined turnover of $109.4 million.

Maersk has expanded its logistics and customs brokerage service offerings worldwide in recent years through acquisition.

In February 2019, the company acquired Vandegrift Inc., a Clark, New Jersey-based customs broker, increasing its North American customs services staff from 80 to 250 people and added 25 more licensed customs brokers.

On April 1, Maersk completed a $545 million acquisition of U.S. warehouse and distribution firm Performance Team, which more than doubled its warehouses in the North American market to 46.

Related Articles:

Logistics services providers become survivalists

Damco meets pandemic logistics challenge head-on

Maersk completes $545 million Performance Team acquisition

Click for more FreightWaves/American Shipper articles by Chris Gillis.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.