AP Moller–Maersk announced the acquisition of HUUB, a Portuguese cloud-based logistics start-up that specialises in business to consumer (B2C) warehousing for the fashion industry
The Danish shipping giant is looking to make inroads in the e-commerce logistics segment and the HUUB acquisition is the company’s third acquisition within the segment in 2021. The acquisition was assisted by Maersk Growth, the company’s venture capital arm.
“With HUUB, we are acquiring world-class capabilities and talent that will allow us to greatly accelerate the development of our omni-channel offering. This will make it much easier for our customers to focus on their core business of producing and selling goods and swiftly bringing them to end-consumers” said AP Moller–Maersk executive vice president and chief executive of Ocean & Logistics, Vincent Clerc.
HUUB chief executive Tiago Paiva said, “Since day one, HUUB has had two main purposes: disruption and scale. Disruption to have the capacity – and courage – to say that a multi-billion dollar industry needs a digital revolution and to envision and create a revolutionary supply chain platform and ecosystem. In addition, there is the scale that allows disruption to occur, feeding it with the volumes that can make a difference.”
“For HUUB, this joint path that now starts with Maersk represents both. Firstly, the validation of our disruptive vision and product. And secondly, Maersk is the scale enabler that will allow our platform to serve amazing customers and lead the e-commerce logistics market.”
In August 2021, Maersk acquired Utah-based Visible Supply Chain Management and finalised the purchase of B2C Europe Holding, based in the Netherlands. The combined total for both deals is believed to be US$900M.
Presenting Maersk’s Q2 2021 interim report, chief executive Søren Skou said, “Our exceptional earnings and high cash flow enable us to further accelerate our transformation, invest in growing our activities, also through acquisitions and at the same time return cash to shareholders.”
Maersk Growth first engaged with HUUB in May 2019. To strengthen its logistics offering, Maersk first acquired Vandegrift, a customs broker and freight forwarding business in 2019.
Last April, the Group acquired Performance Team, a US-based warehousing and distribution specialist and KGH, a pan-European customs service specialist in September.
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