DP World acquires Unifeeder Group
DP World has acquired Unifeeder Group for €660m to boost its presence in the maritime global supply chain and help it become a “trade enabler”.
Denmark-based Unifeeder, which reported revenue of €510m in 2017, was acquired from Nordic Capital Fund VIII and certain minority shareholders. The integrated logistics company operates the largest and most densely connected common user container feeder and an important and growing shortsea network in Europe, serving both deep-sea container hubs and the intra-Europe container freight market.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “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.”
He added: “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 of Unifeeder, commented: “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.”
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