Yusen Logistics continues M&A spree with US 3PL Taylored Services

   Release date: March 02, 2023      Hits: 3752    Comment: 0    
Note: Japanese shipping group NYK Line’s forwarding arm, Yusen Logistics, has acquired US west coast-based 3PL Taylored Servi

Japanese shipping group NYK Line’s forwarding arm, Yusen Logistics, has acquired US west coast-based 3PL Taylored Services Parent, continuing the trend of consolidation in the sector.

Yusen said the acquisition would allow it to tap into the growing e-commerce market in the US and Taylored Services would become part of its US subsidiary, Yusen Logistics (Americas), with its brand name staying in place.

It is acquiring Taylored Services from US private equity firm Saybrook, but did not disclose the price.

The deal includes 11 distribution centres, located near the ports of Los Angeles, Long Beach, New York/New Jersey, Savannah and Miami, as well as in Louisville, Kentucky, totalling approximately 2.9 million square feet of Tier 1 distribution space.

Yusen Logistics (Americas) CEO Mikhail Kholyavenko said: “Combining the strengths of Taylored Services’ fulfilment centres with Yusen Logistics’ global and domestic capabilities will allow us to provide a full suite of supply chain logistics solutions.”

The global e-commerce market is expected to total $6.3trn this year, of which the US e-commerce share is about $1.1trn.

Logistics bottlenecks and demand for delivery services peaked during the Covid-19 pandemic, as movement restrictions encouraged more consumers to shop online and spurred consolidation and vertical integration, involving 3PLs and liner operators.

Prior to acquiring Taylored Services, Yusen bought Japanese food processor Ajinomoto Group’s Thai logistics subsidiary, AB Logistics, renaming it Yusen Food Supply Chain (Thailand), an acquisition that enabled Yusen full-fledged entry into the Thai food distribution business.

More recently, in December, Yusen Logistics acquired Belgian healthcare logistics company Groupe Pierre to broaden its presence in the transport of pharmaceutical products.


 
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