Maersk completes acquisition of Senator International
Enterprise value of transaction is approx $644 million as announced on November 2, 2021, assuming unchanged FX rate.
Danish carrier Maersk has completed the acquisition of Senator International, a global company in freight forwarding.
"Senator brings with it a strong organisation and a well-developed airfreight network comprising own controlled flights and long-term partnerships with best-in-class airlines, a well-established full container load (FCL) and less than container load (LCL) network and specialised services such packaging, warehousing and distribution across five continents," says a statement from Maersk.
The acquisition will enable Maersk to offer an even wider range of products and the ability to provide flexible and integrated logistics solutions to customers, allowing them to speed up or slow down cargo depending on their changing supply chain needs, the statement added.
"We are delighted to welcome the Senator team to our Maersk family," says Vincent Clerc, CEO of Ocean & Logistics, A.P. Moller-Maersk. "As a global provider of integrated logistics, we are improving our ability to provide end-to-end solutions to our customers. With Senator on board, we are ramping up our air freight capacity, network, and know-how significantly to cater even better for our customers."
The enterprise value of the transaction is approximately $644 million as announced on November 2, 2021, assuming unchanged FX rate.
"By joining Maersk, our customers will have access to a broader portfolio of products for their business needs and provide them with a single point of contact," says Tim-Oliver Kirschbaum, CEO, Senator International. "It's a perfect match, and we are really excited about the next chapter in our united journey."
Maersk's target is to have approximately one-third of the annual air tonnage carried within its own controlled freight network.