Hamburg Süd, part of the Oetker Group, is the world's seventh largest container shipping line and operates 130 container vessels primarily in trade between the northern and southern hemispheres.
"Hamburg Süd complements Maersk Line and together we can offer our customers the best of two worlds," Soren Skou, chief executive of Maersk Line and the Maersk Group, said.
Hamburg Süd has 5,960 employees in more than 250 offices across the world. Last year, the company's revenue was $6.73 billion and of that $6.26 billion came from its container line activities, Maersk said.
Oetker Group is a family-owned German conglomerate involved in shipping, banking, food and beverages. Market participants had speculated that the Oetker-family would opt to sell its container business.
"Giving up our engagement in shipping after an 80 year-long ownership in Hamburg Süd was not an easy decision for my family," said August Oetker, chairman of the advisory board behind the management holding company of the Oetker Group.
"We are very confident, though, to have chosen the best of all possible partners," he said.