Damco to purchase Australian China-savvy freight forwarder PacNet

DAMCO, the standalone logistics arm of the AP Moller-Maersk Group, will acquire Melbourne-based PacNet, a forwarder in China and Australia with 382 staff and annual revenues of US$180 million.

Damco said in a statement that it has been looking to strengthen its overall presence in Australia in the segments where PacNet has been active for some time. By combining forces with PacNet, Damco said it "significantly enhances its platform in the north Asia and Asia Pacific regions" and it will "gain market leadership positions in retail and lifestyle sectors in Australia and further strengthen its position in air freight from China to Australia".

Said Damco CEO Rolf Habben-Jansen: "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, which is an excellent basis to improve our ability to serve our joint existing and future customers even better," Mr Habben-Jansen said.