Wallenius Wilhelmsen has acquired the remaining shares in Armacup, bringing the shareholding percentage from 65 to 100%.
Armacup is a New Zealand-headquartered shipping company that has pioneered the Japanese used car trade since the 1980s. Armacup has since then expanded its position in the Asia-Oceania trade, servicing leading and emerging OEMs in Japan, China and South Korea.
Wallenius Wilhelmsen says the acquisition will further enhance the synergies between Wallenius Wilhelmsen and Armacup. It is a strategic move that will bring growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s capacity and its existing investment in integrated logistics offerings in Australia, says Xavier Leroi, Chairman of the Board at Armacup and COO Shipping Services at Wallenius Wilhelmsen.
Existing synergies between Armacup and Wallenius Wilhelmsen include a shared pool of vessels, agencies in China and Australia and a shared customer base.
The transaction was closed on April 30, 2025.