Li & Fung Moves To Go Private

Golden Lincoln Holdings has proposed to take global logistics and sourcing company Li & Fung Ltd. private.

According to published reports, Golden Lincoln Holdings is an entity formed by Li & Fung’s controlling shareholders, composed essentially of the Fung family, and Singaporean warehousing and logistics firm GLP, and is valued at $931 million.

In the company’s last annual report, CEO Spencer Fung noted that the company had completed a three year plan to create what it dubbed the “Supply Chain of the Future” by focusing on speed, innovation and digitalization. He added that, because of global uncertainty and trade disruption, Li & Fung would not announce a new three-year plan and, instead, pursue what it named the 2020 and beyond strategic direction under which Li & Fung would focus on building the supply chain of the future and organic growth.

The customer roster of Li & Fung’s logistics and sourcing business has included major retailers including Walmart. In 2017, Li& Fung entered a strategic transaction with Hony Capital and the Fung Group under which those entities acquired the company’s furniture, sweater and beauty business. The furniture business included the Whalen, True Innocations and Kenas operations.