Maersk To Acquire KGH Customs
Well, here’s some interesting news. Shipping giant AP Moller – Maersk is acquiring KGH Customs, a Swedish trade and customs management services provider, for $280 million.
KGH provides customs services across freight transportation modes. This isn’t the first customs broker to be acquired by Maersk, though. The company bought Vandegrift in 2019, at the time vastly expanding its customs management operation. The move solidifies Maersk’s shift from ocean carrier to general supply chain service provider.
‘There are no end-to-end solutions without customs clearance. With KGH, we will not only be able to strengthen our capabilities within customs services and related consultancy, but also reach more of our customers in Europe through a larger geographical footprint and digital solutions that will enhance our ability to meet our customers´ end-to-end supply chain needs’, Vincent Clerc, Maersk CEO of Ocean and Logistics, said in a statement.
CEO of KGH had this to say: ‘By joining forces, we will be able to continue to build on the great success our teams have achieved, and at the same time play a key role in a combined entity providing a range of different services within the transportation and logistics industry.’
KGH currently handles 1.98 million customs clearances each month.
