DP World to take over Unifeeder
Once the Dubai-based terminal operator gets the regulatory green light, it'll have a clear path to add the world's second biggest independent feeder company to its logistics portfolio in a deal worth €660m.
The transaction will be financed from DP World's existing balance sheet resources and is expected to close in Q4 2018.
The Aarhus-headquartered Unifeeder currently disposes of a 50+ chartered vessel-big fleet, offering a carrying capacity of approx. 3.2m TEU. DP World operates across 78 sea and inland terminals worldwide.
"We are delighted to add the Unifeeder brand under the DP World umbrella, which supports our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler," Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, commented.
He furthered, "The ever-growing deployment of ultra-large container vessels has made high-quality connectivity from hub terminals crucial for our customers and Unifeeder is a best-in-class logistics provider in this space with a strong reputation in Europe. Our aim is to leverage on the in-house expertise of Unifeeder and to accelerate growth in this scalable platform to deliver value for all stakeholders. Unifeeder operates on the same common-user principle as DP World and adds to the Group's strong value proposition to international shipping lines and end cargo owners in making the global supply chain more efficient and cost effective."
Jesper Kristensen, CEO, Unifeeder, also commented, "We are excited to join the DP World Group. Not only is there commonality with our business models but we also share the vision of serving our customers through removing inefficiencies and delivering sustainable shareholder value. We have enjoyed great success over the last five years under Nordic Capital's ownership, and we believe that the Unifeeder brand within the DP World Group has the opportunity to accelerate growth, expand further and take the business to the next level."
"By having an owner as dedicated to customer centric, multi-user solutions as the ones Unifeeder provides, we will continue to build 'best in class' services, coverage and connectivities. Our increased outreach and international scope, will facilitate that we can serve our clients even more broadly and with even more scale and competitiveness. Hence, together with our new owner, we will strive to further improve our offering and further optimize the transshipment markets and the supply chains in Europe and beyond - to the benefit of our clients in particular and the cargo in general," Kristensen summed up.
Photo: DP World & Unifeeder