Maersk Acquires Customs Broker Vandegrift
Danish shipping giant A.P. Moeller-Maersk A/S has acquired Vandegrift, a US-based customs house broker, as the ocean container line pushes further into land-based logistics services and operations. This is the first acquisition of the year in the fast-growing logistics sector.
“Vandegrift’s expertise and reputation enables us to place a trusted advisor in front of our customers to design and build individualized Customs Brokerage and Compliance programs that identify risk and provide solutions. This customer advocate role, coupled with our supply chain assets and global scale creates winning end-to-end solutions for companies intent on competing better in 2019,” said Narin Phol, Regional Managing Director of Maersk North America.
Price and terms were not disclosed. The transaction closed February 8, 2019.
“Joining Maersk represents an important opportunity to grow our Customs Brokerage business by combining our professional services into one stronger, seamless team for customers. Maersk’s role in global trade is truly special and we are thrilled to join them on their journey as the integrator of container logistics,” said Mitch Scher, CEO of Vandegrift.
Vandegrift is a customs brokerage business established in 1951 known for high service levels. The company has evolved to meet the changing needs of international trade, industry trends and client commitments. Based in Clark, New Jersey USA, the core business is customs brokerage with 170 people in twelve offices. The company also specializes in Trade Compliance with a team of former U.S. Customs and Border Protection (CBP) officials as well as individuals with backgrounds in customs brokerage, retail and law.
Jeff Hammond, Global Head of Customs Brokerage for Maersk and a licensed Customs Broker said “Adding Vandegrift’s depth to our value proposition creates a game changer for our North America customers. Now we can offer significantly more Customs Broker expertise, capacity and wider scope of solutions to help our customers succeed. We’re excited to show customers the difference our stronger company can make in their supply chains in 2019 based on the people and system expertise we now offer.”