German operator Hamburger Hafen und Logistik AG (HHLA) has acquired Estonia’s largest terminal operator, Transiidikeskuse AS (TK), making its logistics and transport business the market leader in container handling at Muuga Harbour.

TK is the leader in the field in container handling in Estonia and operates the TK Muuga container terminal as well as the TK Muuga multipurpose terminal for breakbulk, bulk and ro-ro handling. Both are included in the sale.

The container terminal has a capacity of 300,000 teu, with the potential to increase this to about 800,000 teu.

Commenting on the acquisition, HHLA Executive Board chairwoman Angela Titzrath said: “Estonia is one of the fastest-growing economies in Europe and a pioneer when it comes to digitisation.

“We are therefore pleased to be integrating TK — already a profitable and high-performing company — into the HHLA family.”

Ms Titzrath added that the acquisition allowed HHLA “to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the New Silk Road”.

TK founder and owner Anatoli Kanajev said he was “glad” to give TK responsibility to HHLA.

“HHLA has extensive experience and expertise as a container terminal operator,” he commented. “This will ensure that TK will be successful in the future and will also see sustainable development.”

Completion of the transaction is anticipated to take place in the second quarter of this year.