Damco acquires PacNet

10/13/2012

Logistics group Damco has signed an agreement to acquire Pacific Network Global Logistics (PacNet) a leading freight forwarder in China and Australia.

Damco, the logistics arm of the AP Møller-Maersk group,  said it had been looking to strengthen its overall presence in Australia in the segments where PacNet is active for some time. 

The operator said by combining forces with PacNet, Damco would significantly enhance its platform in the North Asia and Asia Pacific regions.

Damco CEO Rolf Habben-Jansen said: “I am happy to be joining forces with PacNet which is another good step forward to further build our global business. PacNet has a high reputation for service in Australia, in the apparel, footwear and retail sectors.

“We are combining two businesses with very aligned strategies, complementary skills, customer bases and geographic strengths, and we have already seen that our cultures match very well.” 

Paul Milborrow, CEO of PacNet, added: “We will now create a leading freight forwarding business in our region with a market-leading position in key industries, enabling us to better cater to the demands our customers are raising.”
 
The PacNet senior management team will join Damco, and the existing operations will be run by largely the same people and the same teams, with no disruption to the high level of service all customers are accustomed to receiving.