Global port operator DP World says it has completed the acquisition of Danish logistics firm Unifeeder for $748 million.
DP World’s full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, but finalized on Thursday.
"DP World PLC is pleased to advise that it has closed the transaction to acquire 100% of Unifeeder Group from Nordic Capital Fund VIII and certainminority shareholders," said one sentence statement from the Dubai-based global marine terminal operator.
"Unifeeder Group is now part of the DP World Group, a leading enabler of global trade and an integral part of the supply chain," said a statement from the logistics company which provides transport solutions in Northern Europe.
"We are excited to become part of a company that shares the Unifeeder’s vision of serving our customers through removing inefficiencies and delivering sustainable shareholder value. Under the new ownership, Unifeeder Group will benefit from DP World’s global scope, size, and presence which in turn will enable Unifeeder’s brands to expand further and beyond current geographies," it added.
Unifeeder, which operates a growing shortsea network in Europe as it serves both deep-sea container hubs and the intra-Europe freight market, is connected to approximately 100 ports. The acquisition will help Dubai-owned company expand its foothold through the largest feeder and shortsea network in Europe.
The acquisition of Unifeeder will further enhance DP World’s presence in the global supply chain and broaden our product offering to our customers - the shipping lines and cargo owners – with a view to ultimately reduce inefficiencies and improve the competitiveness of global trade.
The current operations of Unifeeder are complementary to DP World’s existing business and provides future growth opportunities.
Unifeeder, founded in 1977, is an integrated logistics company with the largest and bestconnected feeder and growing shortsea network in Northern Europe with connectivity to approximately 100 ports.
The company provides efficient and sustainable transport solutions for international container shipping lines between international and regional ports and shortsea services to cargo owners with fully multimodal door-to-door solutions, combining seaborne transportation with road and/or rail. The business is cash generative and operates on a highly flexible cost base.