DP World Acquires Europe’s Largest Feeder
Global terminal operator DP World has announced its acquisition of Unifeeder, the largest container feeder and shortsea network operator in Europe.
Bought for around USD $764 million from Nordic Capital Fund VIII, and separate minority shareholders, DP World’s latest purchase is set to further entrench its presence within the global supply chain.
The Dubai-based company believes that Unifeeder’s present operations will complement existing business and provide further opportunities for growth, by reducing inefficiencies and improving the competitiveness of global trade.
Rashid Abdullah, of DP World, discusses effective ways to link the global supply chain in a recent Port Technology technical paper
Based in Aarhus, Denmark, Unifeeder serves deep-sea container hubs and the intra-Europe container freight market. In addition to this, its feeder service is connected to over 100 ports worldwide.
Under its new ownership, Unifeeder will benefit from the global outreach of DP World, which it hopes will enable further expansion beyond its current service and products.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, commented on the acquisition: “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.
“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.”
We are pleased to announce our 100% acquisition of Unifeeder, which serves both deep-sea container hubs and the intra-Europe container freight market. Read more: https://t.co/rkfeiJMX1W pic.twitter.com/XaWQkldMmg— DP World (@DP_World) August 7, 2018
Jesper Kristensen, CEO of Unifeeder A/S, also made a statement: “We are excited to join the DP World Group as we believe that Unifeeder will benefit from the Group’s significant expertise in the wider supply chain and excellent relationships with shipping lines and end cargo owners.
“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.”
Unifeeder will continue to operate on a fully independent, multi-user basis under its current existing management, and expects to see additional growth as a consequence of the transaction.
Jefferies acted as joint financial adviser to Unifeeder on the deal.